ServiceNow, Inc. (NYSE:NOW) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 824 shares of the information technology services provider’s stock after selling 71 shares during the quarter. First Affirmative Financial Network’s holdings in ServiceNow were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. State Street Corp grew its holdings in shares of ServiceNow by 2.6% during the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after purchasing an additional 226,023 shares during the last quarter. FMR LLC increased its position in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after buying an additional 502,845 shares during the period. World Investment Advisors LLC lifted its stake in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after acquiring an additional 78,378 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Guggenheim restated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. Royal Bank of Canada lifted their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Mizuho boosted their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Cantor Fitzgerald assumed coverage on ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. Finally, Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,116.14.

ServiceNow Price Performance

NOW opened at $1,144.86 on Thursday. The stock has a fifty day moving average price of $1,082.77 and a 200 day moving average price of $950.94. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a market cap of $235.84 billion, a price-to-earnings ratio of 178.05, a PEG ratio of 5.11 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.74). ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. Analysts forecast that ServiceNow, Inc. will post 7.06 EPS for the current fiscal year.

ServiceNow announced that its board has authorized a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by corporate insiders.

ServiceNow Company 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.