ServiceNow, Inc. (NYSE:NOW) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 20.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96 shares of the information technology services provider’s stock after selling 25 shares during the quarter. Meeder Asset Management Inc.’s holdings in ServiceNow were worth $102,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NOW. Atala Financial Inc acquired a new position in ServiceNow during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. boosted its position in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the period. Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in ServiceNow in the 4th quarter valued at approximately $37,000. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the 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 transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow 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 completion of the transaction, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 over the last three months. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $810.61 on Wednesday. The firm has a market cap of $166.99 billion, a price-to-earnings ratio of 118.68, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. 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 business has a fifty day simple moving average of $939.07 and a 200 day simple moving average of $983.75.

ServiceNow (NYSE:NOW) last posted its quarterly 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%. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. UBS Group decreased their price target on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Truist Financial decreased their target price on shares of ServiceNow from $1,100.00 to $950.00 and set a “hold” rating for the company in a research report on Monday. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. TD Cowen raised their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,088.59.

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.