ServiceNow, Inc. (NYSE:NOW) Shares Sold by Wealth Alliance

Wealth Alliance cut its position in ServiceNow, Inc. (NYSE:NOW) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 889 shares of the information technology services provider’s stock after selling 106 shares during the quarter. Wealth Alliance’s holdings in ServiceNow were worth $942,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOW. Truvestments Capital LLC purchased a new stake in ServiceNow during the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $37,000. Stonebridge Financial Group LLC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new stake in ServiceNow during the 4th quarter valued at approximately $40,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $968.19 on Friday. The business’s fifty day moving average price is $1,058.36 and its two-hundred day moving average price is $976.01. The stock has a market cap of $199.45 billion, a PE ratio of 141.76, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99. 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, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced 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 return on equity of 17.11% and a net margin of 12.97%. On average, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research firms have commented on NOW. Guggenheim reaffirmed a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Robert W. Baird reduced their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Canaccord Genuity Group increased their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Redburn Atlantic assumed coverage on ServiceNow in a research note on Wednesday. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,806 shares of company stock worth $16,065,122. 0.25% of the stock is 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.