ServiceNow, Inc. (NYSE:NOW) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 21.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,495 shares of the information technology services provider’s stock after selling 400 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in ServiceNow were worth $1,585,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at $30,000. FPC Investment Advisory Inc. grew its stake in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the period. Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter valued at $37,000. Stonebridge Financial Group LLC purchased a new position in ServiceNow in the 4th quarter valued at $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in ServiceNow in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Mizuho raised their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Scotiabank assumed coverage on ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. Canaccord Genuity Group raised their price objective on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Cantor Fitzgerald assumed coverage on ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective on the stock. 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 company. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,706 shares of company stock valued at $17,644,106 in the last three months. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Up 2.1 %

Shares of NYSE:NOW opened at $941.79 on Thursday. The company has a market capitalization of $194.01 billion, a price-to-earnings ratio of 137.89, a PEG ratio of 4.51 and a beta of 0.99. 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 business has a 50-day moving average price of $1,044.39 and a 200 day moving average price of $981.23. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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 expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has authorized a stock repurchase program 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.