Parkwood LLC Has $16.06 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Parkwood LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,148 shares of the information technology services provider's stock after selling 5,531 shares during the period. ServiceNow makes up about 1.8% of Parkwood LLC's portfolio, making the stock its 12th biggest position. Parkwood LLC's holdings in ServiceNow were worth $16,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC raised its position in shares of ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its position in shares of ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after purchasing an additional 10 shares in the last quarter. Institute for Wealth Management LLC. raised its position in shares of ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after purchasing an additional 11 shares in the last quarter. TBH Global Asset Management LLC raised its position in shares of ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after acquiring an additional 11 shares in the last quarter. Finally, Onefund LLC raised its position in shares of ServiceNow by 2.0% during the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 0.5%

Shares of NYSE NOW traded up $5.04 during mid-day trading on Friday, hitting $1,040.22. 1,156,504 shares of the company traded hands, compared to its average volume of 1,517,797. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a market capitalization of $215.33 billion, a price-to-earnings ratio of 152.30, a PEG ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $858.93 and a two-hundred day moving average of $972.52.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow's revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.41 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NOW shares. StockNews.com lowered ServiceNow from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. BMO Capital Markets upped their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday. Stifel Nicolaus upped their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Barclays set a $1,085.00 price objective on ServiceNow in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,431,636. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 384 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total value of $378,869.76. Following the completion of the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,525,636.96. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,872 shares of company stock valued at $13,261,400. Corporate insiders own 0.38% of the company's stock.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.