VisionPoint Advisory Group LLC Sells 156 Shares of ServiceNow, Inc. (NYSE:NOW)

VisionPoint Advisory Group LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 27.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 418 shares of the information technology services provider’s stock after selling 156 shares during the period. VisionPoint Advisory Group LLC’s holdings in ServiceNow were worth $441,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Bradley Foster & Sargent Inc. CT lifted its holdings in ServiceNow by 160.9% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 3,133 shares of the information technology services provider’s stock valued at $3,321,000 after buying an additional 1,932 shares during the period. Arcadia Investment Management Corp MI raised its position in shares of ServiceNow by 2.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 13,600 shares of the information technology services provider’s stock worth $14,418,000 after acquiring an additional 277 shares in the last quarter. Compass Capital Corp MA ADV bought a new position in shares of ServiceNow in the 4th quarter worth about $1,475,000. Centricity Wealth Management LLC bought a new position in shares of ServiceNow in the 4th quarter worth about $82,000. Finally, Trinity Legacy Partners LLC raised its position in shares of ServiceNow by 3.0% in the 4th quarter. Trinity Legacy Partners LLC now owns 6,506 shares of the information technology services provider’s stock worth $6,897,000 after acquiring an additional 191 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the transaction, the insider now owns 6,244 shares in the company, valued at approximately $6,119,432.20. This represents a 27.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,384,373.88. The trade was a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,806 shares of company stock worth $16,065,122 in the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $968.19 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock’s 50 day moving average price is $1,058.36 and its 200-day moving average price is $976.01. The company has a market capitalization of $199.45 billion, a PE ratio of 141.76, a PEG ratio of 4.60 and a beta of 0.99. 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 (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a stock repurchase plan 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 plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird lowered their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Guggenheim reissued a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. Oppenheimer lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Piper Sandler lifted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

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.