Lion Street Advisors LLC Cuts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Lion Street Advisors LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 18.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 638 shares of the information technology services provider’s stock after selling 149 shares during the quarter. Lion Street Advisors LLC’s holdings in ServiceNow were worth $676,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its stake in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after acquiring an additional 226,023 shares during the last quarter. FMR LLC increased its position in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. World Investment Advisors LLC lifted its stake in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC boosted its stake in ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after buying an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NOW shares. TD Cowen boosted their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays boosted their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Canaccord Genuity Group raised 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. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research note on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Trading Down 1.1 %

NYSE NOW opened at $1,010.15 on Wednesday. The company’s fifty day moving average price is $1,081.85 and its two-hundred day moving average price is $961.18. The company has a market capitalization of $208.09 billion, a price-to-earnings ratio of 147.90, a price-to-earnings-growth ratio of 4.74 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 debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

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

ServiceNow declared that its board has approved a stock repurchase program 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are 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.