ServiceNow, Inc. (NYSE:NOW) Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,931 shares of the information technology services provider’s stock after selling 206 shares during the quarter. WealthPLAN Partners LLC’s holdings in ServiceNow were worth $2,047,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Polymer Capital Management HK LTD raised its stake in shares of ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after buying an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in ServiceNow during the 4th quarter valued at about $48,802,000. Dock Street Asset Management Inc. raised its position in ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after acquiring an additional 1,105 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Down 0.4 %

Shares of NOW stock opened at $985.67 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm’s 50 day moving average price is $1,073.31 and its two-hundred day moving average price is $969.70. The stock has a market cap of $203.05 billion, a price-to-earnings ratio of 144.31, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting 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 anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a share repurchase program 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NOW shares. Stifel Nicolaus lifted their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Needham & Company LLC increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group cut their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry Quinlan sold 415 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the completion of the transaction, the director now owns 1,322 shares of the company’s stock, valued at approximately $1,335,828.12. This represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,257 shares of company stock worth $23,579,376 over the last quarter. 0.25% of the stock is owned by corporate insiders.

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.