ServiceNow, Inc. (NYSE:NOW) Shares Sold by Ethos Financial Group LLC

Ethos Financial Group LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 247 shares of the information technology services provider’s stock after selling 17 shares during the quarter. Ethos Financial Group LLC’s holdings in ServiceNow were worth $265,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of ServiceNow during the fourth quarter valued at $393,868,000. Promus Capital LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at $48,000. Arizona State Retirement System boosted its holdings in shares of ServiceNow by 1.6% during the fourth quarter. Arizona State Retirement System now owns 59,745 shares of the information technology services provider’s stock valued at $63,337,000 after acquiring an additional 967 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of ServiceNow by 45.6% during the fourth quarter. Proficio Capital Partners LLC now owns 629 shares of the information technology services provider’s stock valued at $667,000 after acquiring an additional 197 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of ServiceNow by 0.8% during the fourth quarter. M&T Bank Corp now owns 35,857 shares of the information technology services provider’s stock valued at $38,013,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NOW. Truist Financial upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Scotiabank began coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. Mizuho upped their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, TD Cowen upped their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Activity

In related news, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock worth $20,050,076 in the last 90 days. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $865.79 on Friday. The company has a market capitalization of $178.35 billion, a price-to-earnings ratio of 126.76, a P/E/G ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business’s 50-day moving average is $1,022.06 and its 200-day moving average is $983.75.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.