Global Retirement Partners LLC Has $13.50 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Global Retirement Partners LLC decreased its position in ServiceNow, Inc. (NYSE:NOW) by 10.3% in the 4th quarter, HoldingsChannel reports. The fund owned 12,730 shares of the information technology services provider’s stock after selling 1,458 shares during the period. Global Retirement Partners LLC’s holdings in ServiceNow were worth $13,495,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Polymer Capital Management HK LTD lifted its position in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow in the 4th quarter valued at $48,802,000. Dock Street Asset Management Inc. lifted its holdings in shares of ServiceNow by 3.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after acquiring an additional 1,105 shares during the period. Avidian Wealth Enterprises LLC boosted its position in shares of ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after acquiring an additional 765 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Guggenheim restated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Mizuho raised their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company upped 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 report on Thursday, December 5th. Finally, Stifel Nicolaus boosted their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Up 0.9 %

NOW opened at $995.97 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a market cap of $205.17 billion, a PE ratio of 145.82, a price-to-earnings-growth ratio of 4.59 and a beta of 0.99. 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 fifty day moving average is $1,065.18 and its two-hundred day moving average is $975.99.

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

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

Insider Activity

In related news, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,811 shares of company stock worth $11,159,073 in the last 90 days. Corporate 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.