ServiceNow, Inc. (NYSE:NOW) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 223,659 shares of the information technology services provider’s stock after selling 2,244 shares during the period. American Century Companies Inc.’s holdings in ServiceNow were worth $237,105,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Atala Financial Inc bought a new stake in shares of ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the fourth quarter worth $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the fourth quarter worth $34,000. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter worth $30,000. Finally, FPC Investment Advisory Inc. boosted its position in shares of ServiceNow by 725.0% in 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. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on NOW shares. Needham & Company LLC raised their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Jefferies Financial Group decreased their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. UBS Group lowered their target price on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Finally, Scotiabank lowered their target price on ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,100.31.

Insider Activity

In other news, insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.5 %

ServiceNow stock opened at $827.92 on Friday. The business has a 50 day moving average price of $971.31 and a two-hundred day moving average price of $984.34. 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 stock has a market cap of $170.55 billion, a price-to-earnings ratio of 121.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has authorized a stock repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication 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.