ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,682,141 shares of the information technology services provider’s stock after purchasing an additional 19,173 shares during the quarter. Fisher Asset Management LLC owned about 0.82% of ServiceNow worth $1,783,272,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NOW. Strategic Blueprint LLC acquired a new stake in shares of ServiceNow in the 3rd quarter worth $241,000. Financial Advocates Investment Management boosted its position in shares of ServiceNow by 5.5% in the 3rd quarter. Financial Advocates Investment Management now owns 556 shares of the information technology services provider’s stock worth $497,000 after purchasing an additional 29 shares in the last quarter. HM Payson & Co. lifted its position in ServiceNow by 25.5% during the 3rd quarter. HM Payson & Co. now owns 704 shares of the information technology services provider’s stock worth $630,000 after acquiring an additional 143 shares during the period. Oak Ridge Investments LLC lifted its position in ServiceNow by 6.9% during the 3rd quarter. Oak Ridge Investments LLC now owns 10,602 shares of the information technology services provider’s stock worth $9,482,000 after acquiring an additional 687 shares during the period. Finally, LCM Capital Management Inc lifted its position in ServiceNow by 4.6% during the 3rd quarter. LCM Capital Management Inc now owns 409 shares of the information technology services provider’s stock worth $366,000 after acquiring an additional 18 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Scotiabank assumed coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Needham & Company LLC lifted their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Guggenheim reaffirmed a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research report on Wednesday, January 22nd. Truist Financial lifted their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. lifted their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $929.56 on Friday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a 50 day moving average of $1,038.07 and a two-hundred day moving average of $981.66. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $191.49 billion, a P/E ratio of 136.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.