ServiceNow, Inc. (NYSE:NOW) Shares Sold by Rathbones Group PLC

Rathbones Group PLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,129 shares of the information technology services provider’s stock after selling 216 shares during the quarter. Rathbones Group PLC owned about 0.07% of ServiceNow worth $142,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atala Financial Inc acquired a new position in ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $32,000. Noble Wealth Management PBC acquired a new stake in ServiceNow during the 4th quarter worth approximately $34,000. FPC Investment Advisory Inc. grew its stake in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in ServiceNow in the 4th quarter valued at about $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Down 6.9 %

Shares of NOW stock opened at $720.69 on Monday. The firm’s 50-day simple moving average is $917.80 and its 200-day simple moving average is $981.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The firm has a market cap of $148.46 billion, a P/E ratio of 105.52, a PEG ratio of 4.51 and a beta of 1.08.

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

ServiceNow announced that its Board of Directors has initiated a share buyback 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 usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. The trade was a 44.66 % 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 stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on NOW shares. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group reissued a “buy” rating and set a $1,275.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. Finally, Stifel Nicolaus dropped their price target on shares of ServiceNow from $1,175.00 to $950.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,086.00.

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.