BTG Pactual Asset Management US LLC Sells 2,767 Shares of ServiceNow, Inc. (NYSE:NOW)

BTG Pactual Asset Management US LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 60.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,825 shares of the information technology services provider’s stock after selling 2,767 shares during the period. BTG Pactual Asset Management US LLC’s holdings in ServiceNow were worth $1,939,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NOW. Y Intercept Hong Kong Ltd bought a new stake in shares of ServiceNow during the 3rd quarter worth $551,000. Virtu Financial LLC bought a new position in shares of ServiceNow in the third quarter worth about $9,833,000. Anchor Investment Management LLC boosted its stake in shares of ServiceNow by 6.1% in the 3rd quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider’s stock valued at $1,220,000 after purchasing an additional 78 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new stake in shares of ServiceNow during the 3rd quarter valued at approximately $202,000. Finally, World Investment Advisors LLC increased its position in ServiceNow by 585.8% during the 3rd quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider’s stock worth $5,857,000 after purchasing an additional 5,594 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NOW opened at $785.78 on Friday. The stock has a 50-day moving average of $875.51 and a 200-day moving average of $973.27. ServiceNow, Inc. has a one year low of $637.99 and a one year 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 company has a market cap of $162.66 billion, a PE ratio of 115.05, a P/E/G ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share buyback 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research analyst reports. Redburn Atlantic began coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. BMO Capital Markets reduced their price objective on ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Jefferies Financial Group cut their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,073.93.

About ServiceNow

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.