Pathway Financial Advisers LLC Sells 310 Shares of ServiceNow, Inc. (NYSE:NOW)

Pathway Financial Advisers LLC lessened its stake in ServiceNow, Inc. (NYSE:NOWFree Report) by 34.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 596 shares of the information technology services provider’s stock after selling 310 shares during the quarter. Pathway Financial Advisers LLC’s holdings in ServiceNow were worth $631,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter valued at $30,000. DT Investment Partners LLC raised 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 valued at $35,000 after purchasing an additional 17 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at about $37,000. Stonebridge Financial Group LLC bought a new stake in ServiceNow in the 4th quarter worth about $37,000. 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 valued at $39,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 2.7 %

Shares of ServiceNow stock opened at $981.42 on Thursday. The company has a 50 day simple moving average of $1,075.99 and a two-hundred day simple moving average of $969.56. The firm has a market cap of $202.17 billion, a PE ratio of 143.69, a PEG ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year 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.

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

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

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,077,066.58. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,224 shares of company stock worth $25,593,525. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NOW shares. Scotiabank started coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Sanford C. Bernstein raised their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC boosted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group decreased their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, Robert W. Baird lowered their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

View Our Latest Stock Analysis on ServiceNow

ServiceNow Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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