ServiceNow, Inc. (NYSE:NOW) Shares Sold by Norden Group LLC

Norden Group LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,118 shares of the information technology services provider’s stock after selling 1,103 shares during the period. ServiceNow comprises approximately 0.7% of Norden Group LLC’s holdings, making the stock its 26th largest position. Norden Group LLC’s holdings in ServiceNow were worth $6,485,000 at the end of the most recent quarter.

Other hedge funds 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 approximately $30,000. FPC Investment Advisory Inc. lifted its position in shares of ServiceNow by 725.0% during 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. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $37,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 0.9 %

NOW stock opened at $929.56 on Friday. The company has a market cap of $191.49 billion, a price-to-earnings ratio of 136.10, a PEG ratio of 4.51 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 business has a fifty day simple moving average of $1,038.07 and a 200-day simple moving average of $982.80. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last released 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%. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NOW. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Raymond James assumed coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. Cantor Fitzgerald initiated coverage on ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective for the company. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the company’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 completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,351 shares of company stock worth $20,050,076. Corporate 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.