Shaker Investments LLC OH Sells 11 Shares of ServiceNow, Inc. (NYSE:NOW)

Shaker Investments LLC OH trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,232 shares of the information technology services provider’s stock after selling 11 shares during the quarter. Shaker Investments LLC OH’s holdings in ServiceNow were worth $2,366,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NOW. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth about $30,000. DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the period. Heck Capital Advisors LLC bought a new stake in ServiceNow in the fourth quarter valued at approximately $37,000. Stonebridge Financial Group LLC acquired a new stake in ServiceNow in the fourth quarter worth $37,000. Finally, Oakworth Capital Inc. boosted its position in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

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 completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,384,373.88. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,702 shares of company stock worth $20,965,306. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on NOW. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Piper Sandler increased their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Finally, Evercore ISI increased their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,021.52 on Tuesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a market cap of $210.43 billion, a PE ratio of 149.56, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The business’s 50 day moving average price is $1,080.32 and its two-hundred day moving average price is $966.85. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates 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 year.

ServiceNow declared that its board has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are 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.