Community Financial Services Group LLC Sells 32 Shares of ServiceNow, Inc. (NYSE:NOW)

Community Financial Services Group LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,310 shares of the information technology services provider’s stock after selling 32 shares during the period. ServiceNow makes up approximately 2.0% of Community Financial Services Group LLC’s holdings, making the stock its 15th largest holding. Community Financial Services Group LLC’s holdings in ServiceNow were worth $9,870,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the 3rd quarter valued at about $30,000. DT Investment Partners LLC raised its position in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Heck Capital Advisors LLC bought a new position in ServiceNow during the fourth quarter worth about $37,000. Stonebridge Financial Group LLC acquired a new stake in ServiceNow during the fourth quarter valued at approximately $37,000. Finally, Oakworth Capital Inc. grew its stake in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW opened at $1,008.63 on Wednesday. The company has a fifty day moving average price of $1,079.78 and a two-hundred day moving average price of $968.21. The firm has a market capitalization of $207.78 billion, a PE ratio of 147.68, a P/E/G ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. 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 (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. The trade was a 16.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 336 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $341,896.80. Following the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,408,026.60. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,809 shares of company stock valued at $25,174,184 in the last ninety days. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOW. Mizuho raised their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird cut their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.