Fiduciary Trust Co Purchases 22 Shares of ServiceNow, Inc. (NYSE:NOW)

Fiduciary Trust Co increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 5,579 shares of the information technology services provider’s stock after purchasing an additional 22 shares during the period. Fiduciary Trust Co’s holdings in ServiceNow were worth $5,914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in ServiceNow during the 4th quarter worth about $2,603,360,000. Proficio Capital Partners LLC lifted its position in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after purchasing an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $682,468,000. Price T Rowe Associates Inc. MD increased its holdings in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in ServiceNow by 36.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider’s stock worth $1,940,464,000 after purchasing an additional 491,861 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW opened at $981.13 on Friday. The company has a 50 day moving average of $844.85 and a 200-day moving average of $970.05. 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 stock has a market capitalization of $203.09 billion, a P/E ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 EPS. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. TD Securities reissued a “buy” rating and issued a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Morgan Stanley boosted their price objective on ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. Sanford C. Bernstein reissued an “outperform” rating and set a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Raymond James lowered their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,048.55.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 292 shares of the 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 $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction 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. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,150 shares of company stock valued at $16,550,424. Insiders own 0.38% of the company’s stock.

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.