ServiceNow, Inc. (NYSE:NOW) Stake Lifted by MayTech Global Investments LLC

MayTech Global Investments LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,670 shares of the information technology services provider's stock after acquiring an additional 1,879 shares during the period. ServiceNow comprises about 6.0% of MayTech Global Investments LLC's portfolio, making the stock its 6th largest position. MayTech Global Investments LLC's holdings in ServiceNow were worth $50,536,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NOW. Minot DeBlois Advisors LLC purchased a new position in shares of ServiceNow during the fourth quarter worth $490,000. Morse Asset Management Inc increased its position in shares of ServiceNow by 1.0% during the fourth quarter. Morse Asset Management Inc now owns 2,265 shares of the information technology services provider's stock worth $2,401,000 after purchasing an additional 22 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ServiceNow by 18.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider's stock valued at $209,103,000 after purchasing an additional 31,125 shares during the last quarter. Lazard Asset Management LLC boosted its stake in ServiceNow by 25.0% during the 4th quarter. Lazard Asset Management LLC now owns 36,749 shares of the information technology services provider's stock worth $38,957,000 after purchasing an additional 7,349 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in shares of ServiceNow by 1.6% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 5,539 shares of the information technology services provider's stock valued at $5,872,000 after buying an additional 85 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares of the company's stock, valued at $10,733,252.20. The trade was a 28.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,023 shares of ServiceNow stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,280,016. This represents a 19.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,844 shares of company stock valued at $14,204,938. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,015.60 on Tuesday. The stock's 50-day moving average is $846.83 and its 200-day moving average is $971.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a market cap of $210.23 billion, a price-to-earnings ratio of 148.70, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm earned $3.41 EPS. ServiceNow's quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Evercore ISI increased their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Robert W. Baird boosted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Piper Sandler lowered their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,055.83.

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.

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