ServiceNow, Inc. (NYSE:NOW) Shares Sold by Bison Wealth LLC

Bison Wealth LLC decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 68.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 333 shares of the information technology services provider’s stock after selling 723 shares during the quarter. Bison Wealth LLC’s holdings in ServiceNow were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of ServiceNow in the 3rd quarter valued at $9,833,000. Anchor Investment Management LLC lifted its position in ServiceNow by 6.1% in the third quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider’s stock valued at $1,220,000 after acquiring an additional 78 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in shares of ServiceNow during the third quarter worth about $202,000. World Investment Advisors LLC lifted its stake in ServiceNow by 585.8% in the third quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider’s stock valued at $5,857,000 after buying an additional 5,594 shares during the last quarter. Finally, Sfmg LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $226,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NOW shares. Morgan Stanley boosted their target price on ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Needham & Company LLC cut 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, April 24th. Guggenheim boosted their target price on shares of ServiceNow from $716.00 to $724.00 and gave the stock a “sell” rating in a research report on Thursday, April 24th. Stifel Nicolaus set a $975.00 price target on shares of ServiceNow and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,032.94.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the company’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 transaction of $1,287,123.30. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow 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 directly owns 11,126 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 21,618 shares of company stock valued at $21,132,878. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Up 1.3 %

Shares of NYSE:NOW opened at $955.02 on Thursday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. 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’s 50-day moving average is $837.53 and its 200-day moving average is $967.60. The company has a market capitalization of $197.69 billion, a price-to-earnings ratio of 139.83, a P/E/G ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the business earned $3.41 EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has approved a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is 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.