ServiceNow, Inc. (NYSE:NOW) Shares Sold by LGL Partners LLC

LGL Partners LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 361 shares of the information technology services provider’s stock after selling 37 shares during the period. LGL Partners LLC’s holdings in ServiceNow were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Allworth Financial LP increased its stake in shares of ServiceNow by 1.5% in the third quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock worth $996,000 after buying an additional 16 shares during the last quarter. Modera Wealth Management LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth about $244,000. J.W. Cole Advisors Inc. raised its stake in shares of ServiceNow by 32.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,259 shares of the information technology services provider’s stock valued at $2,020,000 after purchasing an additional 559 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of ServiceNow by 10.4% during the third quarter. Nisa Investment Advisors LLC now owns 62,941 shares of the information technology services provider’s stock worth $56,294,000 after purchasing an additional 5,909 shares during the last quarter. Finally, Orrstown Financial Services Inc. grew its stake in ServiceNow by 18.0% in the third quarter. Orrstown Financial Services Inc. now owns 726 shares of the information technology services provider’s stock worth $649,000 after purchasing an additional 111 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now owns 10,467 shares in the company, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,706 shares of company stock worth $17,644,106 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOW. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Redburn Atlantic initiated coverage on ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Mizuho lifted their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Canaccord Genuity Group increased their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 0.6 %

Shares of NYSE:NOW opened at $922.14 on Wednesday. The company has a 50 day moving average of $1,046.77 and a 200-day moving average of $981.50. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap 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. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.