ServiceNow, Inc. (NYSE:NOW) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,120 shares of the information technology services provider’s stock after selling 54 shares during the quarter. Moran Wealth Management LLC’s holdings in ServiceNow were worth $1,187,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. United Bank acquired a new position in shares of ServiceNow in the third quarter worth about $480,000. Mesirow Financial Investment Management Inc. increased its stake in shares of ServiceNow by 6.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 391 shares of the information technology services provider’s stock valued at $349,000 after purchasing an additional 24 shares in the last quarter. Addison Advisors LLC raised its holdings in ServiceNow by 15.7% in the 3rd quarter. Addison Advisors LLC now owns 184 shares of the information technology services provider’s stock worth $165,000 after purchasing an additional 25 shares during the period. Everhart Financial Group Inc. boosted its position in ServiceNow by 54.2% during the third quarter. Everhart Financial Group Inc. now owns 1,784 shares of the information technology services provider’s stock worth $1,596,000 after purchasing an additional 627 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in ServiceNow by 6.6% in the third quarter. Apollon Wealth Management LLC now owns 2,835 shares of the information technology services provider’s stock valued at $2,536,000 after purchasing an additional 175 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,282 shares of ServiceNow stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the completion of the transaction, the director now directly owns 40,638 shares of the company’s stock, valued at $41,883,148.32. The trade was a 5.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the business’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 in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 over the last 90 days. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NOW shares. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Oppenheimer upped their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. Raymond James assumed coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,048.00 price target on shares of ServiceNow in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,114.24.

ServiceNow Stock Up 3.4 %

NOW stock opened at $810.27 on Wednesday. The firm has a market cap of $166.92 billion, a PE ratio of 118.63, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a one year low of $637.99 and a one 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. The firm’s 50 day moving average price is $1,006.72 and its 200-day moving average price is $985.52.

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

ServiceNow announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership 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.