ServiceNow, Inc. (NYSE:NOW) Shares Sold by TCW Group Inc.

TCW Group Inc. trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 422,918 shares of the information technology services provider’s stock after selling 17,993 shares during the period. ServiceNow accounts for about 3.8% of TCW Group Inc.’s portfolio, making the stock its 4th biggest holding. TCW Group Inc. owned approximately 0.21% of ServiceNow worth $448,344,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after purchasing an additional 9 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in ServiceNow by 2.2% during the 4th 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 during the period. Catalyst Financial Partners LLC increased its stake in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the last quarter. Institute for Wealth Management LLC. boosted its holdings in shares of ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after acquiring an additional 11 shares in the last quarter. Finally, TBH Global Asset Management LLC boosted its holdings in shares of ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock valued at $320,000 after acquiring an additional 11 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NOW shares. Needham & Company LLC lifted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday. They issued a “buy” rating for the company. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Scotiabank began coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. Finally, TD Cowen boosted their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Price Performance

Shares of NYSE NOW opened at $937.79 on Friday. The firm has a market cap of $193.18 billion, a P/E ratio of 137.30, a PEG ratio of 4.51 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $1,054.69 and a 200 day moving average of $978.38. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

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

ServiceNow declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,806 shares of company stock worth $16,065,122. Insiders own 0.25% of the company’s stock.

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.