ServiceNow, Inc. (NYSE:NOW) Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,537 shares of the information technology services provider’s stock after selling 342 shares during the quarter. GraniteShares Advisors LLC’s holdings in ServiceNow were worth $1,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the third quarter valued at approximately $30,000. FPC Investment Advisory Inc. lifted 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 valued at $34,000 after acquiring an additional 29 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Stonebridge Financial Group LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of ServiceNow in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,706 shares of company stock valued at $17,644,106 in the last three months. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Down 0.6 %

NOW opened at $922.14 on Wednesday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market capitalization of $189.96 billion, a price-to-earnings ratio of 135.01, a PEG ratio of 4.51 and a beta of 0.99. 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 fifty day moving average price of $1,046.77 and a 200 day moving average price of $981.50.

ServiceNow (NYSE:NOW) last released its 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 return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Canaccord Genuity Group lifted their price objective on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Raymond James initiated coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Company 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.