Livforsakringsbolaget Skandia Omsesidigt Sells 2,650 Shares of ServiceNow, Inc. (NYSE:NOW)

Livforsakringsbolaget Skandia Omsesidigt lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 55.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,090 shares of the information technology services provider’s stock after selling 2,650 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in ServiceNow were worth $2,215,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of ServiceNow by 1.7% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,226 shares of the information technology services provider’s stock valued at $1,305,000 after acquiring an additional 21 shares in the last quarter. Leo Wealth LLC grew its position in ServiceNow by 7.8% in the 4th quarter. Leo Wealth LLC now owns 275 shares of the information technology services provider’s stock valued at $292,000 after purchasing an additional 20 shares during the period. GHP Investment Advisors Inc. grew its position in ServiceNow by 9.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 210 shares of the information technology services provider’s stock valued at $223,000 after purchasing an additional 18 shares during the period. Argus Investors Counsel Inc. acquired a new stake in ServiceNow in the 4th quarter valued at $201,000. Finally, Geneva Partners LLC grew its position in ServiceNow by 37.6% in the 4th quarter. Geneva Partners LLC now owns 7,577 shares of the information technology services provider’s stock valued at $8,033,000 after purchasing an additional 2,070 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Guggenheim restated a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Mizuho boosted their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 0.4 %

NYSE NOW opened at $1,022.95 on Friday. 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 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market cap of $210.73 billion, a P/E ratio of 149.77, a P/E/G ratio of 4.74 and a beta of 0.99. The stock’s fifty day moving average price is $1,081.55 and its 200-day moving average price is $961.64.

ServiceNow (NYSE:NOW) last announced its earnings results 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%. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.94 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock buyback program 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,702 shares of company stock valued at $20,965,306. Insiders own 0.25% of the company’s stock.

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.