Vident Advisory LLC Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Vident Advisory LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 71.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,283 shares of the information technology services provider’s stock after buying an additional 5,937 shares during the quarter. Vident Advisory LLC’s holdings in ServiceNow were worth $15,142,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after purchasing an additional 9 shares during the period. Institute for Wealth Management LLC. boosted its stake in shares of ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after purchasing an additional 11 shares in the last quarter. TBH Global Asset Management LLC increased its position in shares of ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock valued at $320,000 after buying an additional 11 shares during the period. Onefund LLC raised its stake in ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after buying an additional 11 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its stake in ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock worth $38,000 after buying an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. Scotiabank set a $1,100.00 price target on ServiceNow and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Morgan Stanley increased 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. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Evercore ISI upped their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

ServiceNow Stock Up 0.5%

NOW stock opened at $1,040.22 on Monday. The business’s 50-day moving average is $863.52 and its two-hundred day moving average is $973.56. The company has a market cap of $215.33 billion, a price-to-earnings ratio of 152.30, a P/E/G ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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

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

Insider Activity

In related news, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company’s stock, valued at approximately $4,431,636. This represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 384 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total transaction of $378,869.76. Following the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,525,636.96. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,872 shares of company stock valued at $13,261,400 in the last 90 days. Company 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.