Fmr LLC Has $6.23 Billion Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Fmr LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,878,900 shares of the information technology services provider’s stock after buying an additional 272,506 shares during the period. Fmr LLC owned approximately 2.85% of ServiceNow worth $6,232,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Benchmark Investment Advisors LLC bought a new stake in shares of ServiceNow in the fourth quarter worth $1,265,000. Aster Capital Management DIFC Ltd grew its position in shares of ServiceNow by 785.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,408 shares of the information technology services provider’s stock valued at $1,493,000 after purchasing an additional 1,249 shares during the last quarter. Sepio Capital LP lifted its holdings in shares of ServiceNow by 3.8% during the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider’s stock worth $381,000 after buying an additional 13 shares in the last quarter. Waterloo Capital L.P. boosted its holdings in ServiceNow by 2.6% in the 4th quarter. Waterloo Capital L.P. now owns 2,354 shares of the information technology services provider’s stock valued at $2,496,000 after purchasing an additional 60 shares during the period. Finally, Titleist Asset Management LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at approximately $803,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NOW shares. The Goldman Sachs Group lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. UBS Group decreased their price objective on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Finally, BMO Capital Markets decreased their price objective on ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,086.00.

ServiceNow Trading Down 6.9 %

Shares of ServiceNow stock opened at $720.69 on Friday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The business’s fifty day moving average is $917.80 and its two-hundred day moving average is $980.64. 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 firm has a market cap of $148.46 billion, a PE ratio of 105.52, a P/E/G ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has initiated a share buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the business’s 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 transaction of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by company insiders.

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.