ServiceNow, Inc. (NYSE:NOW) Shares Sold by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92 shares of the information technology services provider’s stock after selling 28 shares during the period. Atlas Capital Advisors Inc.’s holdings in ServiceNow were worth $98,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NOW. World Investment Advisors LLC grew its holdings in shares of ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Norges Bank purchased a new position in ServiceNow during the 4th quarter worth approximately $2,603,360,000. Proficio Capital Partners LLC grew its stake in ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after buying an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in ServiceNow during the fourth quarter worth approximately $682,468,000. Finally, Raymond James Financial Inc. purchased a new stake in ServiceNow in the fourth quarter valued at approximately $393,868,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 6.9 %

Shares of ServiceNow stock opened at $720.69 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 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 business has a 50 day moving average price of $917.80 and a 200 day moving average price of $980.64. The company has a market capitalization of $148.46 billion, a P/E ratio of 105.52, a P/E/G ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group cut their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Robert W. Baird reduced their target price on shares of ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. TD Cowen raised their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Guggenheim reaffirmed a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $1,048.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,086.00.

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.