Callahan Advisors LLC Sells 182 Shares of ServiceNow, Inc. (NYSE:NOW)

Callahan Advisors LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,915 shares of the information technology services provider’s stock after selling 182 shares during the period. Callahan Advisors LLC’s holdings in ServiceNow were worth $4,150,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NOW. Commonwealth Equity Services LLC grew its holdings in ServiceNow by 0.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 52,343 shares of the information technology services provider’s stock worth $46,815,000 after acquiring an additional 139 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of ServiceNow by 15.2% during the 3rd quarter. Resonant Capital Advisors LLC now owns 539 shares of the information technology services provider’s stock valued at $482,000 after purchasing an additional 71 shares in the last quarter. OLD National Bancorp IN boosted its stake in shares of ServiceNow by 2.8% during the 3rd quarter. OLD National Bancorp IN now owns 597 shares of the information technology services provider’s stock valued at $534,000 after purchasing an additional 16 shares in the last quarter. Vest Financial LLC boosted its stake in shares of ServiceNow by 205.8% during the 3rd quarter. Vest Financial LLC now owns 994 shares of the information technology services provider’s stock valued at $889,000 after purchasing an additional 669 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of ServiceNow during the 3rd quarter valued at about $30,520,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 0.4 %

NOW opened at $985.67 on Tuesday. 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 firm has a 50 day moving average price of $1,067.83 and a 200-day moving average price of $974.54. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market capitalization of $203.05 billion, a price-to-earnings ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 net margin of 12.97% and a return on equity of 17.11%. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase plan 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NOW shares. Mizuho lifted their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Guggenheim reaffirmed a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Robert W. Baird lowered their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Activity

In other news, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,811 shares of company stock valued at $11,159,073 over the last three months. Insiders own 0.25% of the company’s stock.

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.