Transamerica Financial Advisors Inc. Sells 183 Shares of ServiceNow, Inc. (NYSE:NOW)

Transamerica Financial Advisors Inc. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,604 shares of the information technology services provider’s stock after selling 183 shares during the quarter. ServiceNow makes up about 0.7% of Transamerica Financial Advisors Inc.’s holdings, making the stock its 29th biggest holding. Transamerica Financial Advisors Inc.’s holdings in ServiceNow were worth $7,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NOW. United Bank purchased a new position in shares of ServiceNow in the 3rd quarter valued at approximately $480,000. Truvestments Capital LLC purchased a new position in ServiceNow during the third quarter valued at $30,000. Freedom Investment Management Inc. boosted its holdings in shares of ServiceNow by 72.9% during the 3rd quarter. Freedom Investment Management Inc. now owns 740 shares of the information technology services provider’s stock valued at $662,000 after buying an additional 312 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of ServiceNow in the 3rd quarter worth about $1,071,000. Finally, Fiduciary Trust Co increased its stake in shares of ServiceNow by 23.2% in the 3rd quarter. Fiduciary Trust Co now owns 5,557 shares of the information technology services provider’s stock worth $4,970,000 after acquiring an additional 1,047 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NOW shares. Redburn Atlantic started coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They set a “buy” rating for the company. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Needham & Company LLC increased their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Mizuho lowered their price target on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Finally, Robert W. Baird cut their price objective on shares of ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $1,093.76.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by insiders.

ServiceNow Trading Down 3.8 %

Shares of NOW stock opened at $796.61 on Friday. 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 stock has a fifty day simple moving average of $950.30 and a two-hundred day simple moving average of $983.23. The firm has a market capitalization of $164.10 billion, a PE ratio of 116.63, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

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

ServiceNow declared that its board has approved a stock buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in 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 programs are usually an indication that the company’s management believes its stock is 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.