ServiceNow, Inc. (NYSE:NOW) Position Decreased by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,059 shares of the information technology services provider's stock after selling 6,363 shares during the period. ServiceNow accounts for 2.8% of Aristotle Atlantic Partners LLC's portfolio, making the stock its 9th largest position. Aristotle Atlantic Partners LLC's holdings in ServiceNow were worth $90,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Union Bancaire Privee UBP SA bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. lifted its holdings in shares of ServiceNow by 3.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after purchasing an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. acquired a new position in shares of ServiceNow in the 4th quarter valued at $105,090,000. Rheos Capital Works Inc. purchased a new stake in ServiceNow in the fourth quarter valued at $10,071,000. Finally, Czech National Bank increased its stake in shares of ServiceNow by 6.7% in the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock valued at $47,486,000 after purchasing an additional 2,829 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $10.34 during midday trading on Tuesday, hitting $967.71. 1,275,846 shares of the company were exchanged, compared to its average volume of 1,511,951. The firm has a 50 day simple moving average of $840.02 and a 200-day simple moving average of $969.13. 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 52 week low of $637.99 and a 52 week high of $1,198.09. The firm has a market cap of $200.32 billion, a P/E ratio of 141.69, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $3.09 billion. During the same quarter in the prior year, the company earned $3.41 EPS. The company's revenue was up 18.6% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and issued a $1,050.00 price objective on shares of ServiceNow in a research report on Tuesday. StockNews.com cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Morgan Stanley lifted their price objective on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,041.48.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey A. Miller sold 2,282 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the completion of the transaction, the director now directly owns 40,638 shares in the company, valued at $41,883,148.32. This trade represents a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,692 shares of company stock valued at $18,173,444. Company insiders own 0.38% of the company's stock.

ServiceNow Profile

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.