ServiceNow, Inc. (NYSE:NOW) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,197 shares of the information technology services provider's stock after selling 1,342 shares during the quarter. Integrated Wealth Concepts LLC's holdings in ServiceNow were worth $18,231,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new stake in ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the fourth quarter worth about $32,000. FPC Investment Advisory Inc. lifted its holdings in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Noble Wealth Management PBC purchased a new position in ServiceNow during the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the fourth quarter worth approximately $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

ServiceNow stock opened at $815.92 on Thursday. The firm's 50 day simple moving average is $840.59 and its 200-day simple moving average is $967.11. 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 company has a market cap of $168.90 billion, a P/E ratio of 119.46, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $3.78 by ($1.47). ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NOW shares. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. Citigroup decreased their price objective on ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research report on Tuesday. Robert W. Baird cut their price target on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Finally, Piper Sandler increased their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average target price of $1,021.43.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,282 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the sale, the director now owns 40,638 shares of the company's stock, valued at $41,883,148.32. This trade represents a 5.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,250 shares of company stock worth $19,853,273 in the last ninety days. 0.38% of the stock is currently owned by insiders.

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.

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