Synergy Financial Group LTD Sells 199 Shares of ServiceNow, Inc. (NYSE:NOW)

Synergy Financial Group LTD lowered its position in ServiceNow, Inc. (NYSE:NOW) by 11.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,490 shares of the information technology services provider’s stock after selling 199 shares during the period. ServiceNow accounts for about 1.3% of Synergy Financial Group LTD’s investment portfolio, making the stock its 19th largest holding. Synergy Financial Group LTD’s holdings in ServiceNow were worth $1,580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at $30,000. FPC Investment Advisory Inc. boosted its stake in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Stonebridge Financial Group LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.3 %

Shares of NOW stock opened at $926.32 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company’s fifty day moving average price is $1,050.62 and its 200-day moving average price is $980.72. The company has a market capitalization of $190.82 billion, a price-to-earnings ratio of 135.63, a PEG ratio of 4.51 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 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction on 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 sale, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. The trade was a 13.07 % 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, General Counsel Russell S. Elmer sold 1,023 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total value of $1,010,724.00. Following the transaction, the general counsel now owns 4,332 shares of the company’s stock, valued at approximately $4,280,016. The trade was a 19.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,264 shares of company stock valued at $13,358,909. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NOW. Truist Financial lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Jefferies Financial Group decreased their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Robert W. Baird dropped their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group raised their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Company 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.