Northwest Capital Management Inc Sells 35 Shares of ServiceNow, Inc. (NYSE:NOW)

Northwest Capital Management Inc decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 53.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30 shares of the information technology services provider’s stock after selling 35 shares during the period. Northwest Capital Management Inc’s holdings in ServiceNow were worth $32,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Crestwood Advisors Group LLC increased its stake in shares of ServiceNow by 2.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 10,795 shares of the information technology services provider’s stock worth $11,444,000 after purchasing an additional 241 shares in the last quarter. IFP Advisors Inc boosted its holdings in ServiceNow by 11.8% in the 4th quarter. IFP Advisors Inc now owns 1,949 shares of the information technology services provider’s stock worth $2,065,000 after buying an additional 206 shares during the period. Waverton Investment Management Ltd purchased a new stake in ServiceNow in the 4th quarter worth $201,000. World Equity Group Inc. bought a new stake in ServiceNow during the fourth quarter valued at about $952,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of ServiceNow by 6.6% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,956 shares of the information technology services provider’s stock valued at $39,178,000 after acquiring an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on NOW shares. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. TD Cowen boosted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Guggenheim reaffirmed a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a 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 issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the firm’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 sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the transaction, the director now owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,264 shares of company stock valued at $13,358,909. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $937.79 on Monday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $1,054.69 and a two-hundred day simple moving average of $979.81. The stock has a market capitalization of $193.18 billion, a price-to-earnings ratio of 137.30, a P/E/G ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released 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 net margin of 12.97% and a return on equity of 17.11%. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

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.