Bailard Inc. Reduces Stock Position in ServiceNow, Inc. (NYSE:NOW)

Bailard Inc. lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 12.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,095 shares of the information technology services provider’s stock after selling 2,195 shares during the quarter. Bailard Inc.’s holdings in ServiceNow were worth $11,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NOW. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares during the last quarter. FMR LLC boosted its holdings in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of ServiceNow by 1.8% in the third quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock worth $1,230,994,000 after buying an additional 39,259 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of ServiceNow by 3.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock worth $1,230,114,000 after buying an additional 72,570 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Up 0.7 %

ServiceNow stock traded up $5.44 during trading hours on Wednesday, reaching $746.39. The stock had a trading volume of 1,702,385 shares, compared to its average volume of 1,186,092. The company has a market cap of $153.29 billion, a price-to-earnings ratio of 88.75, a PEG ratio of 4.56 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day moving average price is $761.32 and its 200-day moving average price is $706.74. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a research note on Tuesday. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Robert W. Baird raised their target price on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. BMO Capital Markets raised their target price on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Piper Sandler raised their target price on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $780.37.

About ServiceNow

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.