Personal CFO Solutions LLC Has $2.65 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Personal CFO Solutions LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 25.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,496 shares of the information technology services provider’s stock after selling 869 shares during the period. Personal CFO Solutions LLC’s holdings in ServiceNow were worth $2,646,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NOW. M&G PLC raised its holdings in ServiceNow by 34.5% during the 3rd quarter. M&G PLC now owns 6,492 shares of the information technology services provider’s stock worth $5,804,000 after buying an additional 1,666 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $83,000. Hollencrest Capital Management raised its holdings in shares of ServiceNow by 19.2% in the third quarter. Hollencrest Capital Management now owns 199 shares of the information technology services provider’s stock valued at $178,000 after purchasing an additional 32 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of ServiceNow by 17.8% in the third quarter. Fiera Capital Corp now owns 4,062 shares of the information technology services provider’s stock valued at $3,633,000 after purchasing an additional 613 shares during the last quarter. Finally, Equitable Trust Co. raised its holdings in shares of ServiceNow by 0.4% in the third quarter. Equitable Trust Co. now owns 4,959 shares of the information technology services provider’s stock valued at $4,435,000 after purchasing an additional 19 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 1.9 %

NOW stock opened at $850.54 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company’s 50-day simple moving average is $1,017.44 and its 200 day simple moving average is $984.89. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a market capitalization of $175.21 billion, a PE ratio of 124.53, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has authorized a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Wells Fargo & Company lifted their price objective 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. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Friday. Finally, The Goldman Sachs Group raised their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,129.72.

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.