ServiceNow, Inc. (NYSE:NOW) is George Kaiser Family Foundation’s 4th Largest Position

George Kaiser Family Foundation cut its position in ServiceNow, Inc. (NYSE:NOW) by 46.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,351 shares of the information technology services provider’s stock after selling 5,583 shares during the period. ServiceNow accounts for 0.9% of George Kaiser Family Foundation’s investment portfolio, making the stock its 4th largest holding. George Kaiser Family Foundation’s holdings in ServiceNow were worth $4,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. Vanguard Group Inc. raised its stake in ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after acquiring an additional 122,577 shares in the last quarter. FMR LLC increased its position in shares of ServiceNow by 17.3% during 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 purchasing an additional 595,697 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares during the last quarter. Norges Bank acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $1,648,259,000. Finally, Massachusetts Financial Services Co. MA grew its stake in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after buying an additional 81,028 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NOW shares. BMO Capital Markets decreased their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group raised their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Robert W. Baird upped their target price on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Finally, Morgan Stanley increased their price objective on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $808.73.

Insiders Place Their Bets

In related news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the transaction, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 917 shares of company stock worth $690,880 over the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Trading Down 2.6 %

NOW stock traded down $19.64 during midday trading on Friday, hitting $738.51. The stock had a trading volume of 1,357,098 shares, compared to its average volume of 1,130,991. ServiceNow, Inc. has a 12-month low of $517.80 and a 12-month high of $815.32. The company’s 50-day moving average price is $747.11 and its 200 day moving average price is $733.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $151.39 billion, a PE ratio of 78.99, a price-to-earnings-growth ratio of 4.63 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, equities research analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

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.