Van Lanschot Kempen Investment Management N.V. Reduces Stake in ServiceNow, Inc. (NYSE:NOW)

Van Lanschot Kempen Investment Management N.V. lowered its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,914 shares of the information technology services provider's stock after selling 5,311 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in ServiceNow were worth $25,352,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Atala Financial Inc bought a new stake in shares of ServiceNow during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter worth $32,000. FPC Investment Advisory Inc. increased its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,250 shares of company stock worth $19,853,273 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on NOW. Redburn Atlantic assumed coverage on ServiceNow in a report on Wednesday, February 19th. They set a "buy" rating on the stock. Sanford C. Bernstein reissued an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research report on Thursday. UBS Group restated a "buy" rating and issued a $1,025.00 price target (up previously from $900.00) on shares of ServiceNow in a research report on Thursday. Canaccord Genuity Group decreased their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Needham & Company LLC lowered their target price on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,032.94.

ServiceNow Stock Up 1.1 %

Shares of ServiceNow stock traded up $10.71 on Friday, hitting $949.28. The company had a trading volume of 2,142,206 shares, compared to its average volume of 1,508,965. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average of $839.67 and a 200-day moving average of $967.34. The stock has a market capitalization of $196.50 billion, a price-to-earnings ratio of 139.03, a P/E/G ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts forecast 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 allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

ServiceNow Company 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.