OneDigital Investment Advisors LLC Sells 389 Shares of ServiceNow, Inc. (NYSE:NOW)

OneDigital Investment Advisors LLC cut its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,085 shares of the information technology services provider's stock after selling 389 shares during the period. OneDigital Investment Advisors LLC's holdings in ServiceNow were worth $7,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of NOW. Atala Financial Inc bought a new position in shares of ServiceNow during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. increased its holdings in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in ServiceNow during the fourth quarter worth approximately $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were 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 in the company, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares of the company's stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is owned by insiders.

ServiceNow Stock Up 0.8 %

Shares of NYSE:NOW traded up $7.51 during midday trading on Friday, reaching $946.08. The company's stock had a trading volume of 2,886,553 shares, compared to its average volume of 1,956,232. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a 50 day moving average of $839.67 and a 200-day moving average of $967.34. The firm has a market capitalization of $195.84 billion, a P/E ratio of 138.52, a PEG ratio of 4.51 and a beta of 1.08. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last released its 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 return on equity of 17.11% and a net margin of 12.97%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated a stock repurchase 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 buy up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup reduced their price target on shares of ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating on the stock in a research report on Tuesday. Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating for the company. Robert W. Baird boosted their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research report on Thursday. Finally, Royal Bank of Canada increased their price target on ServiceNow from $975.00 to $1,060.00 and gave the stock an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have given a buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,032.94.

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.