Shelton Capital Management Sells 2,622 Shares of ServiceNow, Inc. (NYSE:NOW)

Shelton Capital Management lowered its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 23.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,563 shares of the information technology services provider's stock after selling 2,622 shares during the quarter. Shelton Capital Management's holdings in ServiceNow were worth $9,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Avidian Wealth Enterprises LLC raised its stake in ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after buying an additional 9 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings 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 acquiring an additional 10 shares in the last quarter. Institute for Wealth Management LLC. raised its position in shares of ServiceNow by 0.4% during the fourth 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 increased its stake in ServiceNow by 3.8% during 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 in the last quarter. Finally, Onefund LLC boosted its holdings in shares of ServiceNow by 2.0% in 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. Institutional investors own 87.18% of the company's stock.

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Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction dated 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 directly owns 3,027 shares in the company, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on NOW. Stifel Nicolaus cut their price objective on shares of ServiceNow from $1,175.00 to $950.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Guggenheim reissued a "sell" rating and issued a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. 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 research report on Tuesday, February 4th. Finally, Scotiabank cut their price target on shares of ServiceNow from $1,230.00 to $1,050.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,073.93.

ServiceNow Price Performance

Shares of NYSE:NOW traded up $2.29 during trading on Friday, reaching $785.78. 2,102,410 shares of the company traded hands, compared to its average volume of 1,464,960. The firm has a market capitalization of $162.66 billion, a PE ratio of 115.05, a PEG ratio of 4.51 and a beta of 1.08. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company's 50 day moving average is $875.51 and its two-hundred day moving average is $973.27.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved a share buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors 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.