BOK Financial Private Wealth Inc. Cuts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

BOK Financial Private Wealth Inc. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,167 shares of the information technology services provider’s stock after selling 164 shares during the period. BOK Financial Private Wealth Inc.’s holdings in ServiceNow were worth $1,237,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. M&G PLC lifted its stake in shares of ServiceNow by 34.5% during the 3rd quarter. M&G PLC now owns 6,492 shares of the information technology services provider’s stock valued at $5,804,000 after buying an additional 1,666 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in ServiceNow in the third quarter worth approximately $83,000. Hollencrest Capital Management increased its holdings in shares of ServiceNow by 19.2% in the third quarter. Hollencrest Capital Management now owns 199 shares of the information technology services provider’s stock worth $178,000 after buying an additional 32 shares during the period. Fiera Capital Corp boosted its position in ServiceNow by 17.8% during the 3rd quarter. Fiera Capital Corp now owns 4,062 shares of the information technology services provider’s stock valued at $3,633,000 after buying an additional 613 shares during the period. Finally, Equitable Trust Co. lifted its holdings in ServiceNow by 0.4% in the 3rd quarter. Equitable Trust Co. now owns 4,959 shares of the information technology services provider’s stock worth $4,435,000 after buying an additional 19 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction dated Thursday, January 16th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NOW shares. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Piper Sandler raised their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Scotiabank assumed coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Stock Down 1.9 %

NYSE:NOW opened at $850.54 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $1,017.44 and its two-hundred day moving average is $984.89. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The stock has a market capitalization of $175.21 billion, a price-to-earnings ratio of 124.53, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

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

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

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.