ServiceNow, Inc. (NYSE:NOW) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,355 shares of the information technology services provider’s stock after selling 331 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in ServiceNow were worth $2,497,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at $30,000. DT Investment Partners LLC boosted its position 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 buying an additional 17 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $37,000. Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $37,000. Finally, Oakworth Capital Inc. lifted its position in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,867 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the completion of the transaction, the general counsel now owns 6,843 shares in the company, valued at approximately $7,007,026.71. The trade was a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,224 shares of company stock worth $25,593,525. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NOW shares. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $900.00 to $960.00 in a research report on Monday, October 21st. TD Cowen raised their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group dropped their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Oppenheimer increased their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Price Performance

Shares of NOW opened at $981.42 on Thursday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month 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. The stock has a fifty day moving average price of $1,078.82 and a 200 day moving average price of $969.48. The company has a market cap of $202.17 billion, a P/E ratio of 143.69, a PEG ratio of 4.76 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 $3.67 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%. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved a stock buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About ServiceNow

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.