ServiceNow, Inc. (NYSE:NOW) Shares Sold by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,167 shares of the information technology services provider’s stock after selling 164 shares during the period. BOK Financial Private Wealth Inc.’s holdings in ServiceNow were worth $1,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Polymer Capital Management HK LTD lifted its position in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after purchasing an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in ServiceNow in the fourth quarter valued at about $48,802,000. Dock Street Asset Management Inc. lifted its position in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after purchasing an additional 1,105 shares during the period. Venturi Wealth Management LLC lifted its position in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the period. Finally, Cardano Risk Management B.V. acquired a new stake in ServiceNow in the fourth quarter valued at about $105,090,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on NOW shares. Royal Bank of Canada restated an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. Cantor Fitzgerald began coverage on shares of ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price for the company. TD Cowen raised their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Citigroup reduced their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Price Performance

NOW stock opened at $850.54 on Friday. 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, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The firm has a market cap of $175.21 billion, a P/E ratio of 124.53, a P/E/G ratio of 4.51 and a beta of 1.03. The company’s 50-day moving average price is $1,017.44 and its two-hundred day moving average price is $984.89.

ServiceNow (NYSE:NOW) last released its earnings results 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 net margin of 12.97% and a return on equity of 17.11%. On average, 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 stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock valued at $20,050,076 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

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.