ServiceNow, Inc. (NYSE:NOW) Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,391 shares of the information technology services provider's stock after selling 628 shares during the period. Phoenix Financial Ltd.'s holdings in ServiceNow were worth $6,775,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC lifted its position in shares of ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after purchasing an additional 9 shares during the period. Redhawk Wealth Advisors Inc. raised its stake in shares of ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after purchasing an additional 10 shares during the last quarter. Institute for Wealth Management LLC. boosted its holdings in shares of ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after acquiring an additional 11 shares during the last quarter. TBH Global Asset Management LLC grew its holdings in ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after acquiring an additional 11 shares during the period. Finally, Onefund LLC grew its position in ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after buying an additional 11 shares during the period. 87.18% of the stock is owned by institutional investors.

Remove Ads

Insider Activity at ServiceNow

In other news, Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the completion of the transaction, the director now owns 1,737 shares in the company, valued at approximately $1,749,871.17. This trade represents a 19.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 0.8 %

NOW stock traded up $6.21 during midday trading on Monday, reaching $791.88. 627,186 shares of the company's stock traded hands, compared to its average volume of 1,463,856. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The business has a 50-day moving average price of $875.51 and a two-hundred day moving average price of $973.89. The company has a market capitalization of $163.92 billion, a P/E ratio of 115.94, a PEG ratio of 4.51 and a beta of 1.08.

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

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

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. Oppenheimer lifted their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Scotiabank dropped their price objective on ServiceNow from $1,230.00 to $1,050.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Finally, Truist Financial dropped their price target on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,068.76.

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.