ServiceNow, Inc. (NYSE:NOW) Shares Sold by Ceeto Capital Group LLC

Ceeto Capital Group LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 96.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 53 shares of the information technology services provider's stock after selling 1,500 shares during the period. Ceeto Capital Group LLC's holdings in ServiceNow were worth $56,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of ServiceNow during the third quarter worth approximately $551,000. Virtu Financial LLC acquired a new stake in shares of ServiceNow in the 3rd quarter worth about $9,833,000. Anchor Investment Management LLC grew its holdings in ServiceNow by 6.1% in the 3rd quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider's stock worth $1,220,000 after buying an additional 78 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new stake in ServiceNow during the 3rd quarter valued at $202,000. Finally, Sanctuary Advisors LLC lifted its holdings in ServiceNow by 8.2% in the third quarter. Sanctuary Advisors LLC now owns 27,542 shares of the information technology services provider's stock worth $24,633,000 after purchasing an additional 2,082 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group cut their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. Canaccord Genuity Group reissued a "buy" rating and issued a $1,275.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Truist Financial lowered their target price on shares of ServiceNow from $1,100.00 to $950.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,068.76.

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ServiceNow Trading Up 1.8 %

Shares of NYSE:NOW traded up $14.51 during trading on Monday, reaching $800.18. The company's stock had a trading volume of 1,716,924 shares, compared to its average volume of 1,467,978. The stock has a market capitalization of $165.64 billion, a PE ratio of 117.16, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm's 50 day simple moving average is $870.99 and its two-hundred day simple moving average is $973.31. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 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 predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has initiated a share buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $3,080,123.85. This represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry Quinlan sold 415 shares of the stock in a transaction 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 transaction, the director now directly owns 1,737 shares in the company, valued at approximately $1,749,871.17. The trade was a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,351 shares of company stock worth $20,050,076. Insiders own 0.25% of the company's stock.

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.