ServiceNow, Inc. (NYSE:NOW) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 774 shares of the information technology services provider’s stock after selling 33 shares during the quarter. Driehaus Capital Management LLC’s holdings in ServiceNow were worth $821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in ServiceNow during the fourth quarter worth approximately $2,603,360,000. Proficio Capital Partners LLC raised its stake in shares of ServiceNow by 154,255.3% during 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 period. Alphinity Investment Management Pty Ltd acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $682,468,000. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 6.8% during the 4th 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 buying an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings 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 acquiring an additional 491,861 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,150 shares of company stock valued at $16,550,424 in the last ninety days. Company insiders own 0.38% of the company’s stock.

ServiceNow Trading Up 0.7 %

NOW opened at $981.13 on Friday. 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 firm has a market cap 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 52 week low of $637.99 and a 52 week high of $1,198.09. The business has a fifty day simple moving average of $844.85 and a 200-day simple moving average of $970.48.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved a stock repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NOW shares. Needham & Company LLC reaffirmed a “buy” rating and set a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Mizuho cut their price objective on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Canaccord Genuity Group lowered their price target on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus increased their price objective on ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,055.83.

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.