Cahill Financial Advisors Inc. Trims Holdings in ServiceNow, Inc. (NYSE:NOW)

Cahill Financial Advisors Inc. reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299 shares of the information technology services provider’s stock after selling 104 shares during the period. Cahill Financial Advisors Inc.’s holdings in ServiceNow were worth $317,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Nordea Investment Management AB grew its stake in shares of ServiceNow by 15.7% in the 4th quarter. Nordea Investment Management AB now owns 596,743 shares of the information technology services provider’s stock worth $633,461,000 after buying an additional 81,180 shares during the last quarter. CWA Asset Management Group LLC raised its position in shares of ServiceNow by 3.2% in the 4th quarter. CWA Asset Management Group LLC now owns 3,605 shares of the information technology services provider’s stock worth $3,821,000 after purchasing an additional 113 shares during the last quarter. Boltwood Capital Management bought a new position in ServiceNow in the 4th quarter worth about $219,000. Neville Rodie & Shaw Inc. grew its position in ServiceNow by 1.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 2,659 shares of the information technology services provider’s stock valued at $2,819,000 after purchasing an additional 47 shares during the last quarter. Finally, Capital Market Strategies LLC increased its stake in ServiceNow by 2.4% during the 4th quarter. Capital Market Strategies LLC now owns 1,048 shares of the information technology services provider’s stock valued at $1,111,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.1 %

Shares of NOW stock opened at $978.40 on Tuesday. 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 $840.02 and a two-hundred day simple moving average of $969.13. The firm has a market capitalization of $202.53 billion, a PE ratio of 143.25, a PEG ratio of 4.51 and a beta of 1.08. 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, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $3.41 EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,282 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the sale, the director now owns 40,638 shares in the company, valued at $41,883,148.32. The trade was a 5.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,692 shares of company stock valued at $18,173,444. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays set a $969.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Jefferies Financial Group reduced their target price on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,003.00 price target on shares of ServiceNow in a report on Thursday, April 24th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Finally, Raymond James decreased their target price on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,041.00.

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.