ServiceNow, Inc. (NYSE:NOW) Shares Sold by Walter Public Investments Inc.

Walter Public Investments Inc. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,954 shares of the information technology services provider’s stock after selling 2,780 shares during the period. ServiceNow accounts for 4.5% of Walter Public Investments Inc.’s portfolio, making the stock its 3rd largest position. Walter Public Investments Inc.’s holdings in ServiceNow were worth $25,394,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NOW. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter worth $30,000. FPC Investment Advisory Inc. increased its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter worth $37,000. Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow in the fourth quarter worth $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of ServiceNow in the fourth quarter worth $40,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOW. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Guggenheim restated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Oppenheimer upped their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Mizuho upped 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. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

NOW stock opened at $941.79 on Thursday. 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 stock has a market cap of $194.01 billion, a P/E ratio of 137.89, a P/E/G ratio of 4.51 and a beta of 0.99. The firm has a 50 day simple moving average of $1,044.39 and a 200 day simple moving average of $981.23. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

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

ServiceNow announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,706 shares of company stock valued at $17,644,106. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow 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.