Colonial Trust Advisors Has $530,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Colonial Trust Advisors lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 500 shares of the information technology services provider’s stock after selling 14 shares during the period. Colonial Trust Advisors’ holdings in ServiceNow were worth $530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. lifted its holdings in shares of ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after purchasing an additional 1,105 shares during the period. Cardano Risk Management B.V. bought a new stake in shares of ServiceNow in the fourth quarter worth $105,090,000. Rheos Capital Works Inc. bought a new stake in shares of ServiceNow in the fourth quarter worth $10,071,000. Finally, Czech National Bank raised its position in ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock worth $47,486,000 after purchasing an additional 2,829 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction on 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 sale, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $784.01 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $161.51 billion, a PE ratio of 114.79, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The stock’s fifty day simple moving average is $880.00 and its two-hundred day simple moving average is $973.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

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

ServiceNow announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Redburn Atlantic started coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Piper Sandler raised their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. BMO Capital Markets reduced their price objective on shares of ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Canaccord Genuity Group restated a “buy” rating and issued a $1,275.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group lowered their price objective on ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,073.93.

About ServiceNow

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.