First Horizon Advisors Inc. Sells 100 Shares of ServiceNow, Inc. (NYSE:NOW)

First Horizon Advisors Inc. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 619 shares of the information technology services provider’s stock after selling 100 shares during the period. First Horizon Advisors Inc.’s holdings in ServiceNow were worth $656,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its holdings in shares of ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares in the last quarter. FMR LLC grew its holdings in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after acquiring an additional 502,845 shares in the last quarter. World Investment Advisors LLC grew its holdings in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after acquiring an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 3,027 shares in the company, valued at $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. Insiders have sold a total of 13,264 shares of company stock valued at $13,358,909 over the last 90 days. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Jefferies Financial Group dropped their price objective 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. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Piper Sandler upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Trading Down 1.3 %

Shares of NOW stock opened at $926.32 on Tuesday. 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 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a market capitalization of $190.82 billion, a PE ratio of 135.63, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. The business’s fifty day moving average is $1,050.62 and its 200 day moving average is $980.72.

ServiceNow (NYSE:NOW) last released 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, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.