Partners Capital Investment Group LLP Sells 5,231 Shares of ServiceNow, Inc. (NYSE:NOW)

Partners Capital Investment Group LLP cut its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 66.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,618 shares of the information technology services provider's stock after selling 5,231 shares during the quarter. Partners Capital Investment Group LLP's holdings in ServiceNow were worth $2,775,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NOW. Polymer Capital Management HK LTD boosted its stake in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock valued at $2,416,000 after acquiring an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow in the fourth quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. boosted its stake in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after acquiring an additional 1,105 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock valued at $436,000 after acquiring an additional 138 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock valued at $2,565,000 after acquiring an additional 765 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on NOW. JMP Securities restated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Oppenheimer lifted 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. Evercore ISI lifted their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Robert W. Baird cut their price target on ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Finally, Scotiabank assumed coverage on ServiceNow in a report on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,129.72.

ServiceNow Trading Down 1.9 %

NYSE NOW traded down $18.95 on Thursday, hitting $968.19. 1,349,334 shares of the stock were exchanged, compared to its average volume of 1,635,015. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week 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 company has a market capitalization of $199.45 billion, a price-to-earnings ratio of 141.76, a P/E/G ratio of 4.64 and a beta of 0.99. The company's 50-day moving average price is $1,061.97 and its two-hundred day moving average price is $976.06.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in 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 typically a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,023 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,280,016. The trade was a 19.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction 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 sale, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,806 shares of company stock worth $16,065,122 in the last ninety days. Corporate 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.