New Republic Capital LLC Sells 96 Shares of ServiceNow, Inc. (NYSE:NOW)

New Republic Capital LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 24.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 290 shares of the information technology services provider’s stock after selling 96 shares during the quarter. New Republic Capital LLC’s holdings in ServiceNow were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth approximately $30,000. Heck Capital Advisors LLC purchased a new stake in ServiceNow in the fourth quarter worth $37,000. Stonebridge Financial Group LLC bought a new stake in shares of ServiceNow during the fourth quarter worth $37,000. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 313 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 transaction of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,702 shares of company stock worth $20,965,306. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 1.3 %

NOW opened at $1,021.52 on Tuesday. The company has a fifty day moving average of $1,080.32 and a two-hundred day moving average of $966.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $210.43 billion, a price-to-earnings ratio of 149.56, a PEG ratio of 4.76 and a beta of 0.99.

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

ServiceNow declared that its board has authorized a share buyback 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NOW shares. Oppenheimer boosted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Jefferies Financial Group lowered their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Finally, Evercore ISI lifted their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

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.