ServiceNow, Inc. (NYSE:NOW) Stock Holdings Lifted by Fiduciary Trust Co

Fiduciary Trust Co lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,579 shares of the information technology services provider’s stock after acquiring an additional 22 shares during the quarter. Fiduciary Trust Co’s holdings in ServiceNow were worth $5,914,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new stake in ServiceNow during the 4th quarter valued at $48,802,000. Dock Street Asset Management Inc. raised its position in ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after buying an additional 1,105 shares during the period. Cardano Risk Management B.V. purchased a new stake in ServiceNow in the 4th quarter worth about $105,090,000. Rheos Capital Works Inc. acquired a new stake in ServiceNow during the 4th quarter worth about $10,071,000. Finally, Czech National Bank grew its stake in ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock valued at $47,486,000 after acquiring an additional 2,829 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 336 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $341,896.80. Following the sale, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,408,026.60. This represents a 7.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the firm’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 value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,150 shares of company stock worth $16,550,424. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 0.7 %

NYSE NOW opened at $981.13 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market cap of $203.09 billion, a PE ratio of 143.65, a PEG ratio of 4.51 and a beta of 0.97. The firm has a 50-day simple moving average of $844.85 and a 200 day simple moving average of $970.05. 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, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $3.41 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NOW shares. Raymond James reduced their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. TD Securities reissued a “buy” rating and set a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley lifted their price objective on ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Finally, Barclays set a $1,085.00 target price on ServiceNow in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,048.55.

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.