ServiceNow, Inc. (NYSE:NOW) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 404,176 shares of the information technology services provider’s stock after selling 92,165 shares during the quarter. ServiceNow makes up approximately 1.0% of William Blair Investment Management LLC’s portfolio, making the stock its 10th biggest position. William Blair Investment Management LLC owned approximately 0.20% of ServiceNow worth $428,475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC grew its holdings 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 valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Bank of Montreal Can boosted its stake in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after buying an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of ServiceNow in the 4th quarter worth about $682,468,000. Finally, Wellington Management Group LLP raised its holdings in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NOW. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Canaccord Genuity Group restated a “buy” rating and set a $1,275.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. Raymond James assumed coverage on ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective for the company. Finally, UBS Group cut their price objective on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,114.24.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % 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 currently owned by company insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $845.75 on Monday. The firm has a market capitalization of $174.22 billion, a price-to-earnings ratio of 123.83, a PEG ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The business has a 50-day simple moving average of $992.95 and a 200 day simple moving average of $985.70.

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

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are 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.