ServiceNow, Inc. (NYSE:NOW) Holdings Lowered by AA Financial Advisors LLC

AA Financial Advisors LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404 shares of the information technology services provider’s stock after selling 70 shares during the period. AA Financial Advisors LLC’s holdings in ServiceNow were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NOW. Polymer Capital Management HK LTD increased its position in shares of ServiceNow by 57.0% during the 3rd 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 bought a new position in ServiceNow during the fourth quarter valued at about $48,802,000. Avidian Wealth Enterprises LLC grew its holdings in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC raised 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 worth $2,565,000 after acquiring an additional 765 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in ServiceNow in the 4th quarter valued at about $105,090,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $1,011.67 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $208.40 billion, a PE ratio of 148.12, a price-to-earnings-growth ratio of 5.19 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a 50 day moving average price of $1,085.21 and a two-hundred day moving average price of $952.30.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.74). ServiceNow had a return on equity of 17.56% and a net margin of 12.97%. As a group, equities analysts predict that ServiceNow, Inc. will post 8.98 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus upped their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.93.

ServiceNow Company 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.