ServiceNow, Inc. (NYSE:NOW) Shares Sold by Physician Wealth Advisors Inc.

Physician Wealth Advisors Inc. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,130 shares of the information technology services provider’s stock after selling 47 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in ServiceNow were worth $1,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOW. United Bank purchased a new position in shares of ServiceNow during the 3rd quarter worth $480,000. CreativeOne Wealth LLC acquired a new stake in shares of ServiceNow in the third quarter valued at $1,071,000. Public Sector Pension Investment Board boosted its holdings in ServiceNow by 15.2% in the third quarter. Public Sector Pension Investment Board now owns 9,084 shares of the information technology services provider’s stock valued at $8,125,000 after purchasing an additional 1,200 shares during the period. Captrust Financial Advisors increased its holdings in ServiceNow by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 22,940 shares of the information technology services provider’s stock worth $20,517,000 after purchasing an additional 1,054 shares during the period. Finally, Eventide Asset Management LLC raised its position in ServiceNow by 161.9% in the 3rd quarter. Eventide Asset Management LLC now owns 5,552 shares of the information technology services provider’s stock valued at $4,966,000 after purchasing an additional 3,432 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 3.8 %

NYSE NOW opened at $796.61 on Friday. The company has a 50-day moving average of $950.30 and a 200-day moving average of $984.09. 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 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a market cap of $164.10 billion, a P/E ratio of 116.63, a P/E/G ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting 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, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. The Goldman Sachs Group raised their target price 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. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JMP Securities restated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Thursday, January 30th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Finally, StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,093.76.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction that occurred on 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 directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 in the last 90 days. 0.25% of the stock is owned by company insiders.

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.