Vontobel Holding Ltd. Sells 117,615 Shares of ServiceNow, Inc. (NYSE:NOW)

Vontobel Holding Ltd. decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 28.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,410 shares of the information technology services provider’s stock after selling 117,615 shares during the quarter. ServiceNow comprises 1.1% of Vontobel Holding Ltd.’s holdings, making the stock its 29th largest holding. Vontobel Holding Ltd. owned 0.14% of ServiceNow worth $315,290,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Catalyst Financial Partners LLC raised its holdings in shares of ServiceNow by 1.3% in the 4th quarter. Catalyst Financial Partners LLC now owns 1,161 shares of the information technology services provider’s stock worth $1,231,000 after acquiring an additional 15 shares during the last quarter. Ingalls & Snyder LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $219,000. Warren Street Wealth Advisors LLC lifted its holdings in shares of ServiceNow by 7.6% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the information technology services provider’s stock valued at $285,000 after purchasing an additional 19 shares in the last quarter. Clarity Capital Partners LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $292,000. Finally, Van ECK Associates Corp grew its holdings in ServiceNow by 2.5% during the fourth quarter. Van ECK Associates Corp now owns 12,556 shares of the information technology services provider’s stock worth $13,311,000 after buying an additional 301 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.7 %

NOW stock opened at $989.70 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a market capitalization of $203.88 billion, a PE ratio of 144.90, a PEG ratio of 4.76 and a beta of 0.99. 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 stock has a 50-day simple moving average of $1,075.99 and a two-hundred day simple moving average of $969.56.

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

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

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the transaction, the general counsel now directly owns 6,843 shares in the company, valued at approximately $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,257 shares of company stock worth $23,579,376. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on NOW. Oppenheimer raised their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Piper Sandler increased their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Robert W. Baird decreased their price target on 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 given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

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.