Level Four Advisory Services LLC Sells 283 Shares of ServiceNow, Inc. (NYSE:NOW)

Level Four Advisory Services LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,418 shares of the information technology services provider’s stock after selling 283 shares during the quarter. Level Four Advisory Services LLC’s holdings in ServiceNow were worth $7,864,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Atala Financial Inc bought a new position in shares of ServiceNow during the fourth quarter worth $28,000. Truvestments Capital LLC bought a new position in ServiceNow during the 3rd quarter valued at about $30,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the fourth quarter worth $32,000. FPC Investment Advisory Inc. lifted its holdings in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOW. The Goldman Sachs Group boosted their price target 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. Redburn Atlantic began coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Piper Sandler upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Finally, Mizuho decreased their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,093.76.

ServiceNow Stock Down 1.2 %

Shares of NOW stock opened at $828.73 on Friday. 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 twelve month low of $637.99 and a twelve month high of $1,198.09. The stock’s 50 day simple moving average is $955.81 and its 200 day simple moving average is $983.64. The company has a market capitalization of $170.72 billion, a price-to-earnings ratio of 121.34, a PEG ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a stock buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.