Global Retirement Partners LLC Sells 1,458 Shares of ServiceNow, Inc. (NYSE:NOW)

Global Retirement Partners LLC lessened its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,730 shares of the information technology services provider's stock after selling 1,458 shares during the period. Global Retirement Partners LLC's holdings in ServiceNow were worth $13,495,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NOW. Polymer Capital Management HK LTD grew its stake in shares of ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after purchasing an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $48,802,000. Dock Street Asset Management Inc. grew its stake in shares of ServiceNow by 3.4% in the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock worth $35,147,000 after purchasing an additional 1,105 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after purchasing an additional 138 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after purchasing an additional 765 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares of the company's stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value 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. This trade represents a 7.90 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Stock Performance

NOW traded down $30.19 during trading on Friday, reaching $937.79. 2,001,299 shares of the company's stock were exchanged, compared to its average volume of 1,645,842. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $1,054.69 and a 200 day moving average price of $977.09. The company has a market capitalization of $193.18 billion, a P/E ratio of 137.30, a PEG ratio of 4.60 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 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%. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in 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 plans are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOW. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Oppenheimer raised their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Citigroup decreased their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Finally, Robert W. Baird decreased their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,129.72.

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.