ServiceNow, Inc. (NYSE:NOW) Shares Sold by Atria Investments Inc

Atria Investments Inc cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,026 shares of the information technology services provider's stock after selling 1,551 shares during the quarter. Atria Investments Inc's holdings in ServiceNow were worth $26,531,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the 3rd quarter valued at about $30,000. FPC Investment Advisory Inc. grew its position in 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 buying an additional 29 shares during the period. Noble Wealth Management PBC purchased a new position in ServiceNow in the fourth quarter valued at about $34,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $37,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 2,511 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,384,373.88. This represents a 36.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada restated an "outperform" rating and issued a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Jefferies Financial Group lowered their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group lifted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,129.72.

ServiceNow Stock Up 1.1 %

ServiceNow stock traded up $10.25 during trading on Wednesday, reaching $916.34. 1,540,318 shares of the company's stock were exchanged, compared to its average volume of 1,675,462. The company's 50-day moving average is $1,026.73 and its two-hundred day moving average is $984.57. 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, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The firm has a market cap of $188.77 billion, a price-to-earnings ratio of 134.16, a PEG ratio of 4.51 and a beta of 0.99.

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

ServiceNow announced that its board has initiated a stock repurchase 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

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.