ServiceNow, Inc. (NYSE:NOW) Stake Lowered by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,821 shares of the information technology services provider’s stock after selling 481 shares during the quarter. TD Private Client Wealth LLC’s holdings in ServiceNow were worth $5,111,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NOW. Atala Financial Inc bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $28,000. Truvestments Capital LLC bought a new position in shares of ServiceNow during the third quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. grew its holdings in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $34,000. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the transaction, the general counsel now directly owns 4,332 shares of the company’s stock, valued at approximately $4,384,373.88. This represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock valued at $20,050,076 in the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $823.35 on Friday. The company’s fifty day moving average is $975.24 and its two-hundred day moving average is $983.49. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a market cap of $169.61 billion, a P/E ratio of 120.55, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOW. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. UBS Group reduced their price objective on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Guggenheim reiterated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. Oppenheimer boosted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, William Blair reiterated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.31.

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.