ServiceNow, Inc. (NYSE:NOW) Position Cut by KPP Advisory Services LLC

KPP Advisory Services LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 670 shares of the information technology services provider’s stock after selling 11 shares during the quarter. KPP Advisory Services LLC’s holdings in ServiceNow were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Czech National Bank grew its holdings in ServiceNow by 7.4% in the 3rd quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock worth $37,532,000 after buying an additional 2,900 shares in the last quarter. HBW Advisory Services LLC acquired a new stake in ServiceNow in the third quarter worth approximately $210,000. GAMMA Investing LLC lifted its position in ServiceNow by 51.0% in the third quarter. GAMMA Investing LLC now owns 2,659 shares of the information technology services provider’s stock worth $2,378,000 after purchasing an additional 898 shares during the period. WealthBridge Capital Management LLC acquired a new stake in ServiceNow in the third quarter worth approximately $221,000. Finally, Chemistry Wealth Management LLC acquired a new stake in ServiceNow in the third quarter worth approximately $200,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Up 0.7 %

NYSE NOW opened at $1,020.17 on Monday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $210.16 billion, a PE ratio of 149.37, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. The firm’s fifty day simple moving average is $1,083.66 and its 200-day simple moving average is $955.82.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.94 earnings per share for the current fiscal year.

ServiceNow announced that its board has initiated a share buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 over the last three months. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Robert W. Baird cut their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. upped their target price on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Guggenheim reiterated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,129.93.

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.