Vaughan Nelson Investment Management L.P. Has $207.82 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Vaughan Nelson Investment Management L.P. trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,036 shares of the information technology services provider’s stock after selling 9,128 shares during the period. ServiceNow makes up approximately 1.9% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 9th biggest holding. Vaughan Nelson Investment Management L.P.’s holdings in ServiceNow were worth $207,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the 3rd quarter worth $30,000. DT Investment Partners LLC lifted its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the period. Heck Capital Advisors LLC acquired a new stake in ServiceNow during the 4th quarter worth about $37,000. Oakworth Capital Inc. lifted its holdings in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares during the period. Finally, Dunhill Financial LLC boosted its stake in shares of ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,007.79 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s 50 day moving average price is $1,080.32 and its 200-day moving average price is $963.81. The firm has a market cap of $207.61 billion, a P/E ratio of 147.55, a P/E/G ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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 research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a share repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,867 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the completion of the sale, the general counsel now directly owns 6,843 shares in the company, valued at approximately $7,007,026.71. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,702 shares of company stock valued at $20,965,306. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NOW has been the topic of several recent research reports. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Raymond James initiated coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective for the company. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup cut their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Stifel Nicolaus lifted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

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.