ServiceNow, Inc. (NYSE:NOW) Shares Sold by Chicago Capital LLC

Chicago Capital LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,698 shares of the information technology services provider’s stock after selling 39 shares during the quarter. ServiceNow makes up 2.2% of Chicago Capital LLC’s portfolio, making the stock its 15th biggest holding. Chicago Capital LLC’s holdings in ServiceNow were worth $82,369,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Czech National Bank grew its stake in ServiceNow by 7.4% during the third quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock worth $37,532,000 after buying an additional 2,900 shares during the period. HBW Advisory Services LLC purchased a new position in ServiceNow in the third quarter valued at about $210,000. GAMMA Investing LLC grew its stake in shares of ServiceNow by 51.0% in the third quarter. GAMMA Investing LLC now owns 2,659 shares of the information technology services provider’s stock valued at $2,378,000 after buying an additional 898 shares in the last quarter. WealthBridge Capital Management LLC purchased a new stake in shares of ServiceNow during the 3rd quarter valued at about $221,000. Finally, Chemistry Wealth Management LLC acquired a new position in ServiceNow during the 3rd quarter worth approximately $200,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday. UBS Group boosted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays raised their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Oppenheimer raised their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, BMO Capital Markets raised their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,129.93.

ServiceNow Trading Up 0.7 %

NYSE NOW opened at $1,020.17 on Monday. The firm’s 50 day moving average price is $1,083.66 and its two-hundred day moving average price is $955.82. 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, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market cap of $210.16 billion, a price-to-earnings ratio of 149.37, a PEG ratio of 4.74 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities analysts anticipate that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, 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. Over the last ninety days, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% 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.