Westover Capital Advisors LLC Has $4.66 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Westover Capital Advisors LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,393 shares of the information technology services provider’s stock after selling 438 shares during the quarter. ServiceNow accounts for 1.0% of Westover Capital Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Westover Capital Advisors LLC’s holdings in ServiceNow were worth $4,657,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Ring Mountain Capital LLC acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $290,000. Exencial Wealth Advisors LLC raised its position in shares of ServiceNow by 16.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 558 shares of the information technology services provider’s stock worth $592,000 after purchasing an additional 79 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of ServiceNow by 39.6% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,502 shares of the information technology services provider’s stock worth $1,604,000 after purchasing an additional 426 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of ServiceNow by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,292,922 shares of the information technology services provider’s stock worth $1,370,652,000 after purchasing an additional 56,585 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in shares of ServiceNow by 2.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,477 shares of the information technology services provider’s stock worth $27,009,000 after purchasing an additional 617 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NOW opened at $909.80 on Tuesday. The stock’s 50-day simple moving average is $1,034.50 and its 200 day simple moving average is $984.50. The stock has a market capitalization of $187.42 billion, a price-to-earnings ratio of 133.21, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. 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 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 return on equity of 17.11% and a net margin of 12.97%. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

NOW has been the subject of several recent research reports. Citigroup decreased their price target 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. Robert W. Baird decreased their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Oppenheimer upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Needham & Company LLC upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This trade represents a 32.74 % 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 90 days. Corporate insiders own 0.25% of the company’s stock.

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.