ServiceNow, Inc. (NYSE:NOW) Shares Sold by Advisor OS LLC

Advisor OS LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 26.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,873 shares of the information technology services provider’s stock after selling 677 shares during the quarter. Advisor OS LLC’s holdings in ServiceNow were worth $1,986,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Allworth Financial LP lifted its holdings in shares of ServiceNow by 1.5% during the third quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock worth $996,000 after buying an additional 16 shares during the last quarter. Modera Wealth Management LLC acquired a new position in shares of ServiceNow during the third quarter worth $244,000. J.W. Cole Advisors Inc. increased its holdings in ServiceNow by 32.9% in the third quarter. J.W. Cole Advisors Inc. now owns 2,259 shares of the information technology services provider’s stock worth $2,020,000 after purchasing an additional 559 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ServiceNow by 10.4% in the third quarter. Nisa Investment Advisors LLC now owns 62,941 shares of the information technology services provider’s stock worth $56,294,000 after purchasing an additional 5,909 shares during the last quarter. Finally, Orrstown Financial Services Inc. lifted its stake in ServiceNow by 18.0% in the third quarter. Orrstown Financial Services Inc. now owns 726 shares of the information technology services provider’s stock valued at $649,000 after purchasing an additional 111 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,706 shares of company stock worth $17,644,106. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NOW shares. Scotiabank assumed coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Oppenheimer upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Finally, TD Cowen increased their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Trading Down 0.6 %

NYSE:NOW opened at $922.14 on Wednesday. The stock has a market cap of $189.96 billion, a P/E ratio of 135.01, a P/E/G ratio of 4.51 and a beta of 0.99. The stock has a 50-day simple moving average of $1,046.77 and a 200-day simple moving average of $981.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 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 earnings per share (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%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are 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.