ServiceNow, Inc. (NYSE:NOW) Stake Lowered by Blair William & Co. IL

Blair William & Co. IL trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,283 shares of the information technology services provider’s stock after selling 2,340 shares during the period. ServiceNow comprises approximately 1.0% of Blair William & Co. IL’s portfolio, making the stock its 19th biggest holding. Blair William & Co. IL owned about 0.15% of ServiceNow worth $326,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NOW. United Bank acquired a new position in shares of ServiceNow during the 3rd quarter worth $480,000. Larson Financial Group LLC boosted its holdings in ServiceNow by 48.6% in the third quarter. Larson Financial Group LLC now owns 410 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 134 shares in the last quarter. Loomis Sayles & Co. L P increased its position in ServiceNow by 8.0% during the third quarter. Loomis Sayles & Co. L P now owns 1,277 shares of the information technology services provider’s stock worth $1,142,000 after buying an additional 95 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of ServiceNow by 104.6% in the third quarter. Brown Brothers Harriman & Co. now owns 1,113 shares of the information technology services provider’s stock worth $995,000 after buying an additional 569 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $986.00 price objective on ServiceNow in a research note on Tuesday, March 11th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Citigroup lowered their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Truist Financial lifted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Raymond James started coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,093.76.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 2.7 %

Shares of NYSE:NOW opened at $838.54 on Thursday. The company’s fifty day moving average is $960.38 and its 200-day moving average is $984.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a market capitalization of $172.74 billion, a PE ratio of 122.77, a P/E/G ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally 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.