Lindbrook Capital LLC Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Lindbrook Capital LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,390 shares of the information technology services provider’s stock after selling 12 shares during the quarter. Lindbrook Capital LLC’s holdings in ServiceNow were worth $1,474,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of ServiceNow during the 4th quarter valued at $393,868,000. Promus Capital LLC purchased a new position in shares of ServiceNow during the 4th quarter valued at $48,000. Arizona State Retirement System lifted its stake in shares of ServiceNow by 1.6% during the 4th quarter. Arizona State Retirement System now owns 59,745 shares of the information technology services provider’s stock valued at $63,337,000 after buying an additional 967 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of ServiceNow by 45.6% during the 4th quarter. Proficio Capital Partners LLC now owns 629 shares of the information technology services provider’s stock valued at $667,000 after buying an additional 197 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of ServiceNow by 0.8% during the 4th quarter. M&T Bank Corp now owns 35,857 shares of the information technology services provider’s stock valued at $38,013,000 after buying an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the business’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 sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the business’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 sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. TD Cowen lifted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup reduced their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC lifted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $916.34 on Thursday. The company has a market capitalization of $188.77 billion, a price-to-earnings ratio of 134.16, a PEG ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The firm’s 50-day moving average is $1,026.73 and its 200 day moving average is $984.57. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

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%. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has initiated a stock repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase 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 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.