ServiceNow, Inc. (NYSE:NOW) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 299,572 shares of the information technology services provider’s stock after selling 3,189 shares during the quarter. ServiceNow accounts for 3.0% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 10th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in ServiceNow were worth $341,696,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new position in ServiceNow during the third quarter worth $30,000. Heck Capital Advisors LLC bought a new position in ServiceNow in the 4th quarter valued at about $37,000. DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. Oakworth Capital Inc. grew its position in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of ServiceNow during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NOW shares. Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Canaccord Genuity Group boosted their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,702 shares of company stock worth $20,965,306. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

NOW opened at $1,007.79 on Friday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a market cap of $207.61 billion, a price-to-earnings ratio of 147.55, a PEG ratio of 4.76 and a beta of 0.99. The company’s fifty day moving average price is $1,080.32 and its two-hundred day moving average price is $963.81. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last posted its 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%. On average, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share buyback 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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.