ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,252 shares of the information technology services provider’s stock after acquiring an additional 231 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in ServiceNow were worth $2,387,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOW. Naviter Wealth LLC increased its holdings in ServiceNow by 8.9% in the fourth quarter. Naviter Wealth LLC now owns 2,114 shares of the information technology services provider’s stock valued at $2,241,000 after buying an additional 172 shares during the last quarter. Larson Financial Group LLC increased its holdings in ServiceNow by 7.3% in the fourth quarter. Larson Financial Group LLC now owns 440 shares of the information technology services provider’s stock valued at $466,000 after buying an additional 30 shares during the last quarter. NS Partners Ltd increased its holdings in ServiceNow by 6.1% in the fourth quarter. NS Partners Ltd now owns 24,405 shares of the information technology services provider’s stock valued at $25,872,000 after buying an additional 1,403 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in ServiceNow in the fourth quarter valued at $954,000. Finally, Banco Santander S.A. increased its holdings in ServiceNow by 0.6% in the fourth quarter. Banco Santander S.A. now owns 31,449 shares of the information technology services provider’s stock valued at $33,340,000 after buying an additional 201 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,282 shares of ServiceNow stock in a transaction that occurred 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 sale, the director now directly owns 40,638 shares in the company, valued at approximately $41,883,148.32. This trade represents a 5.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 over the last 90 days. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $850.54 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market cap of $175.21 billion, a P/E ratio of 124.53, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a 50-day moving average price of $1,017.44 and a 200 day moving average price of $984.89.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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 net margin of 12.97% and a return on equity of 17.11%. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent analyst reports. Oppenheimer increased their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Robert W. Baird dropped their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Cantor Fitzgerald initiated coverage on ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective on the stock. Scotiabank initiated coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective on the stock. Finally, Needham & Company LLC raised their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

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.