ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,693 shares of the information technology services provider’s stock after acquiring an additional 125 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in ServiceNow were worth $3,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its stake in shares of ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares during the last quarter. FMR LLC boosted its holdings in ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after buying an additional 502,845 shares in the last quarter. World Investment Advisors LLC grew its position in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after acquiring an additional 615,797 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent research reports. Citigroup decreased their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. TD Cowen raised their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Needham & Company LLC boosted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Raymond James assumed coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 1.5 %

ServiceNow stock opened at $1,007.79 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company’s fifty day moving average price is $1,080.32 and its two-hundred day moving average price is $963.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $207.61 billion, a price-to-earnings ratio of 147.55, a PEG ratio of 4.76 and a beta of 0.99.

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

ServiceNow announced that its board has authorized a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 2,511 shares of ServiceNow stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,384,373.88. The trade was a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Larry Quinlan sold 415 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,007.41, for a total value of $418,075.15. Following the sale, the director now owns 1,737 shares of the company’s stock, valued at approximately $1,749,871.17. The trade was a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,702 shares of company stock valued at $20,965,306 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

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.