Sage Mountain Advisors LLC Has $1.43 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Sage Mountain Advisors LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,346 shares of the information technology services provider’s stock after selling 38 shares during the quarter. Sage Mountain Advisors LLC’s holdings in ServiceNow were worth $1,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of ServiceNow by 2.6% during the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after buying an additional 226,023 shares in the last quarter. FMR LLC boosted its holdings 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 buying an additional 502,845 shares in the last quarter. World Investment Advisors LLC boosted its holdings 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 worth $4,268,731,000 after buying an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after buying an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In related news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Raymond James started coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Guggenheim reiterated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald started coverage on ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price on the stock. One research 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 8.1 %

Shares of ServiceNow stock opened at $781.60 on Tuesday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a market cap of $161.01 billion, a PE ratio of 114.44, a P/E/G ratio of 4.51 and a beta of 1.03. The stock has a fifty day moving average price of $1,011.72 and a 200-day moving average price of $985.64. 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 (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is 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.