ServiceNow, Inc. (NYSE:NOW) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,395 shares of the information technology services provider's stock after selling 23,690 shares during the quarter. PNC Financial Services Group Inc. owned 0.09% of ServiceNow worth $189,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC raised its position in 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 position in ServiceNow by 2.2% in the 4th 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 period. Institute for Wealth Management LLC. raised its position in 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 worth $2,779,000 after purchasing an additional 11 shares during the period. TBH Global Asset Management LLC raised its position in ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after purchasing an additional 11 shares during the period. Finally, Onefund LLC raised its position in ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after purchasing an additional 11 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 4,442 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares of the company's stock, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction on 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 completion of the transaction, 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. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last 90 days. Insiders own 0.25% of the company's stock.

ServiceNow Stock Down 1.9 %

NOW traded down $16.56 during trading on Friday, hitting $850.54. The stock had a trading volume of 2,527,596 shares, compared to its average volume of 1,705,930. The stock has a 50 day simple moving average of $1,017.44 and a two-hundred day simple moving average of $985.92. The company has a market capitalization of $175.21 billion, a PE ratio of 124.53, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. 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 (NYSE:NOW - Get Free Report) last posted its quarterly earnings results 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 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 earnings per share for the current year.

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Robert W. Baird dropped their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday, January 17th. They issued an "overweight" rating and a $1,332.00 target price on the stock. Redburn Atlantic assumed coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Citigroup dropped their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. One research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,129.72.

ServiceNow Company 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.