Synergy Financial Group LTD Sells 199 Shares of ServiceNow, Inc. (NYSE:NOW)

Synergy Financial Group LTD cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,490 shares of the information technology services provider’s stock after selling 199 shares during the period. ServiceNow comprises approximately 1.3% of Synergy Financial Group LTD’s portfolio, making the stock its 19th biggest holding. Synergy Financial Group LTD’s holdings in ServiceNow were worth $1,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Allworth Financial LP increased its position in shares of ServiceNow by 1.5% during the 3rd quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock valued at $996,000 after purchasing an additional 16 shares during the last quarter. NorthCrest Asset Manangement LLC increased its holdings in ServiceNow by 2.2% during the third quarter. NorthCrest Asset Manangement LLC now owns 1,080 shares of the information technology services provider’s stock worth $966,000 after buying an additional 23 shares during the last quarter. GHP Investment Advisors Inc. raised its position in ServiceNow by 108.7% in the third quarter. GHP Investment Advisors Inc. now owns 192 shares of the information technology services provider’s stock worth $172,000 after acquiring an additional 100 shares during the period. Modera Wealth Management LLC purchased a new position in ServiceNow in the third quarter valued at about $244,000. Finally, Capital Advisors Ltd. LLC grew its position in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $926.32 on Tuesday. The stock has a market cap of $190.82 billion, a price-to-earnings ratio of 135.63, a P/E/G ratio of 4.51 and a beta of 0.99. The stock’s 50-day moving average is $1,050.62 and its 200 day moving average is $980.72. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. 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 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 net margin of 12.97% and a return on equity of 17.11%. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has authorized a stock repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the subject of several research reports. Citigroup reduced their price objective on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Robert W. Baird cut their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group increased their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Piper Sandler boosted their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One investment 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 given a strong buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,129.72.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now owns 10,467 shares in the company, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the 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 of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,264 shares of company stock valued at $13,358,909 in the last ninety days. Company insiders own 0.25% of the company’s stock.

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.