Cerity Partners LLC Sells 5,280 Shares of ServiceNow, Inc. (NYSE:NOW)

Cerity Partners LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,228 shares of the information technology services provider’s stock after selling 5,280 shares during the quarter. Cerity Partners LLC’s holdings in ServiceNow were worth $86,440,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after purchasing an additional 190,430 shares during the last quarter. FMR LLC raised its holdings in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after buying an additional 272,506 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after buying an additional 100,670 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow during the 4th quarter worth about $2,603,360,000. Finally, Jennison Associates LLC increased its holdings in shares of ServiceNow by 17.4% during the 4th quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider’s stock valued at $2,493,520,000 after acquiring an additional 348,187 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Down 6.9 %

Shares of NYSE:NOW opened at $720.69 on Monday. The company has a market capitalization of $148.46 billion, a PE ratio of 105.52, a P/E/G ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company’s fifty day moving average is $917.80 and its 200-day moving average is $981.27. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has initiated a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire 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 shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Jefferies Financial Group dropped their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. The Goldman Sachs Group increased their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, TD Cowen lifted their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,086.00.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the 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 sold 20,351 shares of company stock valued at $20,050,076 in the last three months. Corporate insiders own 0.25% of the company’s stock.

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.