ServiceNow, Inc. (NYSE:NOW) Shares Sold by LGL Partners LLC

LGL Partners LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361 shares of the information technology services provider’s stock after selling 37 shares during the period. LGL Partners LLC’s holdings in ServiceNow were worth $383,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FFT Wealth Management LLC boosted its position in ServiceNow by 10.1% during the fourth quarter. FFT Wealth Management LLC now owns 1,109 shares of the information technology services provider’s stock worth $1,176,000 after purchasing an additional 102 shares in the last quarter. Longbow Finance SA acquired a new position in shares of ServiceNow during the 4th quarter worth $4,317,000. Los Angeles Capital Management LLC raised its stake in shares of ServiceNow by 8.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 158,199 shares of the information technology services provider’s stock worth $167,710,000 after buying an additional 12,685 shares during the last quarter. Avalon Capital Management boosted its position in shares of ServiceNow by 41.7% in the 4th quarter. Avalon Capital Management now owns 680 shares of the information technology services provider’s stock worth $721,000 after buying an additional 200 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in ServiceNow by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,504,445 shares of the information technology services provider’s stock valued at $1,594,892,000 after acquiring an additional 19,248 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Needham & Company LLC upped their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Redburn Atlantic assumed coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, 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 research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly 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 SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,706 shares of company stock valued at $17,644,106. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.6 %

Shares of NYSE:NOW opened at $922.14 on Wednesday. The stock has a 50-day simple moving average of $1,046.77 and a 200-day simple moving average of $981.50. The stock has a market capitalization of $189.96 billion, a P/E ratio of 135.01, a PEG ratio of 4.51 and a beta of 0.99. 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 quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last released 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 net margin of 12.97% and a return on equity of 17.11%. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

ServiceNow Company 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.