WealthPlan Investment Management LLC Has $3.01 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

WealthPlan Investment Management LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,840 shares of the information technology services provider’s stock after selling 372 shares during the period. WealthPlan Investment Management LLC’s holdings in ServiceNow were worth $3,011,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NOW. State Street Corp lifted its stake in shares of ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after acquiring an additional 226,023 shares during the period. FMR LLC lifted its position in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC boosted its stake in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after buying an additional 78,378 shares during the period. Finally, Wellington Management Group LLP raised its stake in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Canaccord Genuity Group boosted their price target on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Oppenheimer increased their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Needham & Company LLC increased their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,077,066.58. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,257 shares of company stock worth $23,579,376 over the last quarter. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Down 0.4 %

Shares of NOW stock opened at $985.67 on Friday. 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 firm has a market cap of $203.05 billion, a P/E ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99. The company has a 50 day moving average of $1,073.31 and a 200-day moving average of $969.70. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

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

ServiceNow announced that its Board of Directors has initiated a share buyback program 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically 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.