ServiceNow, Inc. (NYSE:NOW) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,490,554 shares of the information technology services provider’s stock after acquiring an additional 3,681 shares during the quarter. Alliancebernstein L.P.’s holdings in ServiceNow were worth $1,580,166,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NOW. Edmond DE Rothschild Holding S.A. raised its position in shares of ServiceNow by 12.7% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 850 shares of the information technology services provider’s stock valued at $901,000 after purchasing an additional 96 shares during the last quarter. Pier 88 Investment Partners LLC acquired a new position in ServiceNow during the 4th quarter valued at approximately $2,014,000. Axiom Investors LLC DE raised its holdings in shares of ServiceNow by 67.3% in the fourth quarter. Axiom Investors LLC DE now owns 398,594 shares of the information technology services provider’s stock worth $422,557,000 after buying an additional 160,378 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of ServiceNow by 11.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 23,572 shares of the information technology services provider’s stock worth $24,989,000 after buying an additional 2,493 shares during the period. Finally, United Bank grew its holdings in shares of ServiceNow by 46.0% during the fourth quarter. United Bank now owns 784 shares of the information technology services provider’s stock valued at $831,000 after buying an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’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 sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Redburn Atlantic initiated coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Finally, KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,093.76.

ServiceNow Stock Down 3.8 %

NOW opened at $796.61 on Monday. The company has a market cap of $164.10 billion, a PE ratio of 116.63, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a 50-day moving average price of $950.30 and a 200 day moving average price of $984.86. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

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

ServiceNow announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.