Marshall Wace LLP Has $140.31 Million Position in ServiceNow, Inc. (NYSE:NOW)

Marshall Wace LLP boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 157.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,353 shares of the information technology services provider’s stock after purchasing an additional 81,036 shares during the quarter. Marshall Wace LLP owned about 0.06% of ServiceNow worth $140,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the fourth quarter worth about $32,000. FPC Investment Advisory Inc. grew its holdings in shares of ServiceNow by 725.0% during 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 valued at approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $817.37 on Wednesday. The firm has a fifty day moving average of $866.88 and a two-hundred day moving average of $972.23. 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 market capitalization of $169.20 billion, a price-to-earnings ratio of 119.67, a PEG ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has initiated a share repurchase 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

NOW has been the topic of several analyst reports. Scotiabank lowered their price target on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Redburn Atlantic started coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Thursday, January 30th. Wells Fargo & Company lowered their price objective on ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada set a $986.00 target price on ServiceNow in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,059.80.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last 90 days. 0.25% of the stock is owned by insiders.

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.