ServiceNow, Inc. (NYSE:NOW) is Lyell Wealth Management LP’s 7th Largest Position

Lyell Wealth Management LP lowered its position in ServiceNow, Inc. (NYSE:NOW) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,041 shares of the information technology services provider’s stock after selling 127 shares during the quarter. ServiceNow comprises about 2.5% of Lyell Wealth Management LP’s holdings, making the stock its 7th biggest holding. Lyell Wealth Management LP’s holdings in ServiceNow were worth $27,607,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp lifted 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 worth $8,118,867,000 after purchasing an additional 226,023 shares during the period. FMR LLC grew its holdings in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after buying an additional 502,845 shares during the period. World Investment Advisors LLC lifted its stake in shares of ServiceNow by 499,668.1% in the 3rd 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 purchasing an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 1.9% in the 3rd 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 purchasing an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in ServiceNow by 24.1% during 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 in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Oppenheimer boosted 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. Citigroup cut their price objective on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Scotiabank started coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Finally, The Goldman Sachs Group increased their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry Quinlan sold 415 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the sale, the director now owns 1,737 shares in the company, valued at approximately $1,749,871.17. The trade was a 19.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,811 shares of company stock worth $11,159,073. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $995.97 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $205.17 billion, a PE ratio of 145.82, a PEG ratio of 4.59 and a beta of 0.99. The stock’s 50 day moving average price is $1,065.18 and its 200-day moving average price is $975.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

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

ServiceNow announced that its Board of Directors has initiated a stock 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

ServiceNow 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.