Williamson Legacy Group LLC Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Williamson Legacy Group LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,297 shares of the information technology services provider’s stock after selling 67 shares during the quarter. ServiceNow accounts for about 0.9% of Williamson Legacy Group LLC’s portfolio, making the stock its 19th biggest position. Williamson Legacy Group LLC’s holdings in ServiceNow were worth $1,375,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Truvestments Capital LLC purchased a new stake in shares of ServiceNow in the third quarter worth approximately $30,000. FPC Investment Advisory Inc. raised its stake 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 worth $34,000 after purchasing an additional 29 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $37,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,351 shares of company stock valued at $20,050,076. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $929.56 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The business has a fifty day moving average price of $1,038.07 and a 200-day moving average price of $981.66. 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 firm has a market capitalization of $191.49 billion, a P/E ratio of 136.10, a PEG ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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%. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current 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.

Analyst Ratings Changes

NOW has been the subject of several analyst reports. Citigroup lowered their price objective on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Mizuho increased their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Piper Sandler increased their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price 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.