ServiceNow, Inc. (NYSE:NOW) Shares Sold by Ellevest Inc.

Ellevest Inc. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,535 shares of the information technology services provider’s stock after selling 12 shares during the period. Ellevest Inc.’s holdings in ServiceNow were worth $1,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $2,603,360,000. Proficio Capital Partners LLC grew its position in ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after buying an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd purchased a new position in ServiceNow in the fourth quarter valued at $682,468,000. Price T Rowe Associates Inc. MD increased its holdings in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after buying an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of ServiceNow by 36.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider’s stock worth $1,940,464,000 after acquiring an additional 491,861 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.8 %

NOW stock opened at $975.86 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a market cap of $202.00 billion, a PE ratio of 142.88, a PEG ratio of 4.51 and a beta of 0.97. The firm’s 50 day moving average price is $843.35 and its 200-day moving average price is $969.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.41 earnings per share. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Analyst Ratings Changes

A number of research firms have recently commented on NOW. Guggenheim raised their target price on ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a research report on Thursday, April 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,048.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Raymond James reduced their target price on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. Finally, Truist Financial upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and upped their price objective for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,048.55.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 336 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $341,896.80. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,408,026.60. This represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,410 shares of company stock valued at $15,821,524 over the last 90 days. 0.38% of the stock is owned by insiders.

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.