ServiceNow, Inc. (NYSE:NOW) Position Lifted by Geneva Partners LLC

Geneva Partners LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 37.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,577 shares of the information technology services provider’s stock after purchasing an additional 2,070 shares during the period. ServiceNow accounts for 3.3% of Geneva Partners LLC’s investment portfolio, making the stock its 10th biggest position. Geneva Partners LLC’s holdings in ServiceNow were worth $8,033,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares during the period. FMR LLC grew its holdings in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares in the last quarter. World Investment Advisors LLC lifted its holdings in ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,778 shares of company stock valued at $21,042,138. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Scotiabank began coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Guggenheim restated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Robert W. Baird reduced their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald began coverage on shares of ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Up 1.6 %

NYSE NOW opened at $1,026.25 on Thursday. The stock has a market cap of $211.41 billion, a PE ratio of 150.26, a PEG ratio of 4.74 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a 50-day simple moving average of $1,081.55 and a 200 day simple moving average of $961.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, research analysts forecast that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a stock buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.