First Financial Bankshares Inc Sells 637 Shares of ServiceNow, Inc. (NYSE:NOW)

First Financial Bankshares Inc cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.9% in the 4th quarter, HoldingsChannel reports. The fund owned 21,224 shares of the information technology services provider’s stock after selling 637 shares during the quarter. First Financial Bankshares Inc’s holdings in ServiceNow were worth $22,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. Atala Financial Inc bought a new position in shares of ServiceNow in the fourth quarter worth approximately $28,000. Truvestments Capital LLC purchased a new stake in ServiceNow during the 3rd quarter valued at $30,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow in the 4th quarter worth $32,000. FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the fourth quarter valued at about $34,000. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOW has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Oppenheimer boosted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Scotiabank decreased their price objective on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,100.31.

ServiceNow Stock Down 1.5 %

NYSE:NOW opened at $830.11 on Wednesday. The firm has a 50-day simple moving average of $983.82 and a two-hundred day simple moving average of $985.60. The firm has a market cap of $171.00 billion, a P/E ratio of 121.54, a P/E/G ratio of 4.51 and a beta of 1.03. 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 quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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%. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The stock was 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 in the company, valued at approximately $3,370,654.28. This trade represents a 44.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 over the last quarter. 0.25% of the stock is currently owned by insiders.

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.