ServiceNow, Inc. (NYSE:NOW) Shares Sold by Twin Peaks Wealth Advisors LLC

Twin Peaks Wealth Advisors LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 353 shares of the information technology services provider’s stock after selling 42 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in ServiceNow were worth $374,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NOW. Bank of New York Mellon Corp raised its stake in ServiceNow by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,504,445 shares of the information technology services provider’s stock valued at $1,594,892,000 after buying an additional 19,248 shares in the last quarter. Transcendent Capital Group LLC raised its stake in ServiceNow by 8.3% during the fourth quarter. Transcendent Capital Group LLC now owns 524 shares of the information technology services provider’s stock valued at $556,000 after buying an additional 40 shares in the last quarter. Trifecta Capital Advisors LLC raised its stake in ServiceNow by 12.0% during the fourth quarter. Trifecta Capital Advisors LLC now owns 8,171 shares of the information technology services provider’s stock valued at $8,662,000 after buying an additional 876 shares in the last quarter. Pine Valley Investments Ltd Liability Co acquired a new stake in ServiceNow during the fourth quarter valued at approximately $219,000. Finally, Rothschild Investment LLC raised its stake in ServiceNow by 7.1% during the fourth quarter. Rothschild Investment LLC now owns 348 shares of the information technology services provider’s stock valued at $369,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 384 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total transaction of $378,869.76. Following the completion of the sale, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,525,636.96. This represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the sale, the director now owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,264 shares of company stock valued at $13,358,909. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Raymond James initiated coverage on ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective on the stock. Jefferies Financial Group cut their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Guggenheim reaffirmed a “sell” rating and set a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. Finally, Robert W. Baird lowered their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $926.32 on Tuesday. The stock has a fifty day moving average price of $1,050.62 and a two-hundred day moving average price of $980.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $190.82 billion, a P/E ratio of 135.63, a PEG ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board 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.