First Trust Advisors LP Has $147.49 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

First Trust Advisors LP reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,124 shares of the information technology services provider’s stock after selling 2,694 shares during the period. First Trust Advisors LP owned approximately 0.07% of ServiceNow worth $147,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Atala Financial Inc acquired a new stake in shares of ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the fourth quarter worth about $32,000. FPC Investment Advisory Inc. grew its stake in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at $4,384,373.88. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

NOW has been the topic of several analyst reports. The Goldman Sachs Group reduced their price target on shares of ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,048.00 target price on shares of ServiceNow in a report on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $1,275.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. Wells Fargo & Company dropped their price objective on ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Finally, Redburn Atlantic initiated coverage on ServiceNow in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,057.17.

ServiceNow Trading Down 3.1 %

NOW opened at $772.18 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 company has a fifty day moving average price of $852.94 and a two-hundred day moving average price of $970.14. The company has a market cap of $159.84 billion, a P/E ratio of 113.06, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has authorized a share repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are 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.