Y.D. More Investments Ltd Has $4.53 Million Position in ServiceNow, Inc. (NYSE:NOW)

Y.D. More Investments Ltd trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,274 shares of the information technology services provider’s stock after selling 125 shares during the quarter. Y.D. More Investments Ltd’s holdings in ServiceNow were worth $4,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NOW. Redhawk Wealth Advisors Inc. boosted its stake in shares of ServiceNow by 2.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 10 shares during the period. Catalyst Financial Partners LLC raised its stake in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares during the last quarter. Institute for Wealth Management LLC. boosted its holdings in shares of ServiceNow by 0.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network grew its stake in shares of ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 1.1 %

NOW stock opened at $1,010.15 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market capitalization of $208.09 billion, a price-to-earnings ratio of 147.90, a price-to-earnings-growth ratio of 4.74 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. The firm’s fifty day simple moving average is $1,083.05 and its two-hundred day simple moving average is $959.36.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results 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 net margin of 12.97% and a return on equity of 17.11%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.94 earnings per share for the current year.

ServiceNow announced that its board has approved a stock buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. Raymond James assumed coverage on ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. Sanford C. Bernstein boosted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Mizuho boosted their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Evercore ISI raised their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,867 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the completion of the sale, the general counsel now directly owns 6,843 shares in the company, valued at approximately $7,007,026.71. The trade was a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock valued at $21,016,751 in the last 90 days. Insiders own 0.25% of the company’s stock.

About ServiceNow

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.