ServiceNow, Inc. (NYSE:NOW) Holdings Decreased by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,850 shares of the information technology services provider’s stock after selling 186 shares during the quarter. Snowden Capital Advisors LLC’s holdings in ServiceNow were worth $5,142,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after acquiring an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its position in ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares in the last quarter. Institute for Wealth Management LLC. raised its position in ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after acquiring an additional 11 shares in the last quarter. TBH Global Asset Management LLC raised its position in ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after acquiring an additional 11 shares in the last quarter. Finally, Onefund LLC raised its position in ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after acquiring an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. Mizuho dropped 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 report on Tuesday, March 11th. Evercore ISI boosted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Bank of America cut their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Redburn Atlantic began coverage on ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,062.50.

ServiceNow Price Performance

Shares of NOW opened at $1,040.22 on Friday. The company has a market capitalization of $215.33 billion, a price-to-earnings ratio of 152.30, a P/E/G ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week 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 $863.52 and its 200-day moving average is $973.12.

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

ServiceNow announced that its Board of Directors has initiated 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at ServiceNow

In related news, Director Deborah Black sold 598 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the sale, the director now owns 428 shares of the company’s stock, valued at approximately $402,418.44. The trade was a 58.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,023 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total value of $1,010,724.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company’s stock, valued at approximately $4,280,016. The trade was a 19.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,872 shares of company stock valued at $13,261,400. 0.38% of the stock is owned by corporate insiders.

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.