BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 687 Shares of ServiceNow, Inc. (NYSE:NOW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,050 shares of the information technology services provider’s stock after selling 687 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ServiceNow were worth $68,961,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after acquiring an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in ServiceNow by 6.8% in 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 acquiring an additional 509,467 shares during the last quarter. FMR LLC grew its holdings in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Geode Capital Management LLC grew its position in ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after acquiring an additional 100,670 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ServiceNow by 3.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider’s stock valued at $2,814,433,000 after purchasing an additional 87,876 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $67,518.00. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,096,621. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 191 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $188,135.00. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,267,020. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,061 shares of company stock valued at $9,515,766. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on NOW shares. Robert W. Baird raised their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Piper Sandler reduced their target price on ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Barclays set a $1,085.00 price target on ServiceNow in a report on Wednesday, May 7th. Canaccord Genuity Group decreased 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, Oppenheimer restated an “outperform” rating and issued a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,062.50.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,020.53 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a market cap of $211.25 billion, a price-to-earnings ratio of 149.42, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The stock has a 50 day simple moving average of $871.37 and a 200-day simple moving average of $974.45.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for 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%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.41 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has approved a stock repurchase plan 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors 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.