Advisor OS LLC Trims Stock Position in ServiceNow, Inc. (NYSE:NOW)

Advisor OS LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 26.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,873 shares of the information technology services provider’s stock after selling 677 shares during the period. Advisor OS LLC’s holdings in ServiceNow were worth $1,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. World Investment Advisors LLC boosted its position in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares during the last quarter. Bank of Montreal Can grew its position in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after buying an additional 935,848 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares in the last quarter. FMR LLC increased its stake in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in ServiceNow by 17.4% during the fourth quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider’s stock worth $2,493,520,000 after acquiring an additional 348,187 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.6 %

Shares of ServiceNow stock opened at $922.14 on Wednesday. The company has a market capitalization of $189.96 billion, a P/E ratio of 135.01, a P/E/G ratio of 4.51 and a beta of 0.99. 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 1 year low of $637.99 and a 1 year high of $1,198.09. The business has a 50 day moving average price of $1,046.77 and a 200 day moving average price of $981.50.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on NOW shares. Canaccord Genuity Group upped their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group decreased their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $1,210.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Finally, Mizuho upped their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the 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 transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $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 a total of 17,706 shares of company stock valued at $17,644,106 in the last three months. Corporate insiders own 0.25% of the company’s stock.

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.