ServiceNow, Inc. (NYSE:NOW) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 351,937 shares of the information technology services provider’s stock after selling 19,080 shares during the quarter. Sei Investments Co.’s holdings in ServiceNow were worth $373,092,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Plancorp LLC lifted its position in ServiceNow by 4.1% during the 4th quarter. Plancorp LLC now owns 308 shares of the information technology services provider’s stock worth $327,000 after acquiring an additional 12 shares during the period. Runnymede Capital Advisors Inc. acquired a new stake in ServiceNow during the 4th quarter worth about $121,000. Mizuho Securities USA LLC lifted its holdings in shares of ServiceNow by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 19,524 shares of the information technology services provider’s stock valued at $20,698,000 after buying an additional 6,166 shares during the period. Fi3 FINANCIAL ADVISORS LLC lifted its holdings in shares of ServiceNow by 103.8% in the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 489 shares of the information technology services provider’s stock valued at $518,000 after buying an additional 249 shares during the period. Finally, ZEGA Investments LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at about $272,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In related news, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the transaction, the general counsel now owns 4,332 shares in the company, valued at $4,384,373.88. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NOW shares. Truist Financial boosted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Needham & Company LLC boosted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Robert W. Baird decreased their price objective 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. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, TD Cowen lifted their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.31.

ServiceNow Price Performance

NOW stock opened at $827.92 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50 day simple moving average of $971.31 and a 200-day simple moving average of $983.30. The firm has a market capitalization of $170.55 billion, a PE ratio of 121.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year 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 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%. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a share repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.