Total Clarity Wealth Management Inc. Sells 19 Shares of ServiceNow, Inc. (NYSE:NOW)

Total Clarity Wealth Management Inc. decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 491 shares of the information technology services provider’s stock after selling 19 shares during the period. Total Clarity Wealth Management Inc.’s holdings in ServiceNow were worth $521,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank boosted its position in ServiceNow by 7.4% during the third quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock worth $37,532,000 after purchasing an additional 2,900 shares during the period. HBW Advisory Services LLC purchased a new position in ServiceNow in the 3rd quarter valued at approximately $210,000. Quent Capital LLC lifted its position in shares of ServiceNow by 15.4% during the third quarter. Quent Capital LLC now owns 959 shares of the information technology services provider’s stock worth $856,000 after acquiring an additional 128 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of ServiceNow by 0.6% in the third quarter. Handelsbanken Fonder AB now owns 131,944 shares of the information technology services provider’s stock worth $118,009,000 after acquiring an additional 840 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of ServiceNow by 51.0% in the third quarter. GAMMA Investing LLC now owns 2,659 shares of the information technology services provider’s stock valued at $2,378,000 after purchasing an additional 898 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.7 %

Shares of NYSE NOW opened at $1,020.17 on Friday. The company has a market cap of $210.16 billion, a PE ratio of 149.37, a P/E/G ratio of 5.19 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50 day moving average price is $1,083.66 and its 200-day moving average price is $954.46. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 17.56% and a net margin of 12.97%. On average, equities research analysts expect that ServiceNow, Inc. will post 8.98 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on NOW. Evercore ISI raised their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Oppenheimer upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Finally, The Goldman Sachs Group boosted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.93.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company’s stock.

ServiceNow 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.