ServiceNow, Inc. (NYSE:NOW) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,752 shares of the information technology services provider’s stock after selling 1,105 shares during the period. ServiceNow comprises approximately 0.7% of Pitcairn Co.’s holdings, making the stock its 19th largest position. Pitcairn Co.’s holdings in ServiceNow were worth $12,459,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Atala Financial Inc acquired a new position in shares of ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow during the fourth quarter worth about $32,000. Noble Wealth Management PBC acquired a new position in ServiceNow during the fourth quarter worth about $34,000. FPC Investment Advisory Inc. increased its holdings in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were 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 owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the sale, the director now owns 1,737 shares in the company, valued at $1,749,871.17. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NOW shares. Wells Fargo & Company upped their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Jefferies Financial Group dropped their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Raymond James initiated coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $1,275.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,087.21.

ServiceNow Stock Performance

Shares of NOW stock opened at $824.64 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market cap of $169.88 billion, a PE ratio of 120.74, a P/E/G ratio of 4.51 and a beta of 1.03. The company’s fifty day simple moving average is $933.06 and its 200-day simple moving average is $982.64. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

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%. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.