Rosenblum Silverman Sutton S F Inc. CA Sells 195 Shares of ServiceNow, Inc. (NYSE:NOW)

Rosenblum Silverman Sutton S F Inc. CA lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,476 shares of the information technology services provider’s stock after selling 195 shares during the quarter. ServiceNow comprises 1.5% of Rosenblum Silverman Sutton S F Inc. CA’s portfolio, making the stock its 26th biggest holding. Rosenblum Silverman Sutton S F Inc. CA’s holdings in ServiceNow were worth $5,805,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Atala Financial Inc purchased a new position in shares of ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow during the fourth quarter valued at $32,000. Noble Wealth Management PBC bought a new stake in ServiceNow in the 4th quarter valued at $34,000. FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the 4th quarter valued at about $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 6.1 %

Shares of NYSE NOW opened at $773.53 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The stock’s 50 day simple moving average is $925.88 and its 200 day simple moving average is $981.19. The company has a market cap of $159.35 billion, a price-to-earnings ratio of 113.25, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated 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 owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NOW shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $1,275.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Piper Sandler boosted their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. TD Cowen increased their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird dropped their price objective on shares of ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Finally, Oppenheimer raised their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,087.21.

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.