Manchester Financial Inc. Sells 113 Shares of ServiceNow, Inc. (NYSE:NOW)

Manchester Financial Inc. cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 35.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 210 shares of the information technology services provider’s stock after selling 113 shares during the quarter. Manchester Financial Inc.’s holdings in ServiceNow were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at $30,000. DT Investment Partners LLC boosted its stake 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 worth $35,000 after acquiring an additional 17 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in ServiceNow in the fourth quarter worth about $37,000. Stonebridge Financial Group LLC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Finally, Oakworth Capital Inc. lifted its holdings in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Needham & Company LLC upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Raymond James started coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. Robert W. Baird decreased their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Finally, Oppenheimer increased their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $989.70 on Friday. The stock has a market cap of $203.88 billion, a P/E ratio of 144.90, a P/E/G ratio of 4.76 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 stock’s fifty day moving average is $1,075.99 and its 200 day moving average is $969.56. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted 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%. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $95,554.76. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,077,066.58. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,257 shares of company stock valued at $23,579,376 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

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.