ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Wahed Invest LLC

Wahed Invest LLC increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,151 shares of the information technology services provider's stock after acquiring an additional 265 shares during the period. ServiceNow makes up about 0.9% of Wahed Invest LLC's portfolio, making the stock its 16th biggest holding. Wahed Invest LLC's holdings in ServiceNow were worth $5,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in ServiceNow during the fourth quarter valued at $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOW. Bank of America decreased their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Guggenheim upped their price target on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. William Blair restated an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,041.48.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Chadwick sold 770 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director now owns 3,205 shares of the company's stock, valued at $2,985,842.10. The trade was a 19.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,692 shares of company stock valued at $18,173,444 over the last quarter. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Down 1.1 %

Shares of NYSE NOW traded down $10.34 during midday trading on Tuesday, hitting $967.71. 1,268,782 shares of the company's stock were exchanged, compared to its average volume of 1,927,659. The company has a market cap of $200.32 billion, a PE ratio of 141.69, a P/E/G ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm's fifty day simple moving average is $840.02 and its 200-day simple moving average is $969.13.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $3.41 EPS. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

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.