ServiceNow, Inc. (NYSE:NOW) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. decreased its position in ServiceNow, Inc. (NYSE:NOW) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 534 shares of the information technology services provider’s stock after selling 77 shares during the quarter. FDx Advisors Inc.’s holdings in ServiceNow were worth $566,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NOW. Foundations Investment Advisors LLC grew its position in ServiceNow by 19.3% in the third quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider’s stock valued at $558,000 after acquiring an additional 101 shares in the last quarter. Segment Wealth Management LLC grew its position in ServiceNow by 39.3% in the third quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider’s stock valued at $634,000 after acquiring an additional 200 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in ServiceNow by 44.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,076 shares of the information technology services provider’s stock valued at $963,000 after acquiring an additional 329 shares in the last quarter. Axecap Investments LLC acquired a new stake in ServiceNow in the third quarter valued at approximately $985,000. Finally, International Assets Investment Management LLC grew its position in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NOW shares. Piper Sandler increased their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Sanford C. Bernstein increased their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Activity

In other news, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 384 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total value of $378,869.76. Following the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,525,636.96. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,806 shares of company stock valued at $16,065,122. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $968.19 on Friday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business’s fifty day moving average price is $1,058.36 and its two-hundred day moving average price is $976.01. The firm has a market capitalization of $199.45 billion, a PE ratio of 141.76, a P/E/G ratio of 4.60 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. On average, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

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.