West Oak Capital LLC Decreases Position in ServiceNow, Inc. (NYSE:NOW)

West Oak Capital LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 31.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 433 shares of the information technology services provider’s stock after selling 197 shares during the quarter. West Oak Capital LLC’s holdings in ServiceNow were worth $459,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NOW. Polymer Capital Management HK LTD boosted its stake in shares of ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after buying an additional 981 shares during the last quarter. AXA S.A. lifted its holdings in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC raised its position in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. Finally, HWG Holdings LP bought a new stake in shares of ServiceNow in the 2nd quarter worth approximately $2,679,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW stock traded down $24.82 on Friday, hitting $1,024.26. 1,577,226 shares of the company’s stock traded hands, compared to its average volume of 1,151,802. The stock has a market cap of $211.00 billion, a price-to-earnings ratio of 159.29, a P/E/G ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $1,062.40 and a 200-day moving average of $919.80.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. On average, analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock valued at $20,861,626 over the last three months. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. The Goldman Sachs Group upped their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday. Barclays upped their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Scotiabank assumed coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. Canaccord Genuity Group upped their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

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.