Sentry Investment Management LLC Has $1.43 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Sentry Investment Management LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 17.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,353 shares of the information technology services provider’s stock after selling 286 shares during the quarter. ServiceNow accounts for 0.7% of Sentry Investment Management LLC’s portfolio, making the stock its 22nd largest holding. Sentry Investment Management LLC’s holdings in ServiceNow were worth $1,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter valued at about $30,000. FPC Investment Advisory Inc. lifted its position in shares of 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 acquiring an additional 29 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $37,000. Stonebridge Financial Group LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at $37,000. Finally, Bank of Jackson Hole Trust bought a new position in ServiceNow in the fourth quarter worth $40,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.3 %

Shares of NOW opened at $926.32 on Tuesday. The firm has a market capitalization of $190.82 billion, a price-to-earnings ratio of 135.63, a PEG ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. 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 business’s fifty day moving average price is $1,050.62 and its two-hundred day moving average price is $980.72.

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

ServiceNow declared that its board has initiated a stock buyback program 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Scotiabank assumed coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target on the stock. Robert W. Baird lowered their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Citigroup dropped their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group decreased their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, The Goldman Sachs Group increased their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on 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 of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now owns 10,467 shares of the company’s stock, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,264 shares of company stock worth $13,358,909 in the last quarter. 0.25% of the stock is owned by company insiders.

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.