SWS Partners Sells 293 Shares of ServiceNow, Inc. (NYSE:NOW)

SWS Partners lessened its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,515 shares of the information technology services provider's stock after selling 293 shares during the quarter. SWS Partners' holdings in ServiceNow were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NOW. Chicago Partners Investment Group LLC increased its position in ServiceNow by 5.1% in the third quarter. Chicago Partners Investment Group LLC now owns 726 shares of the information technology services provider's stock worth $659,000 after purchasing an additional 35 shares during the period. Princeton Global Asset Management LLC bought a new position in shares of ServiceNow in the 3rd quarter valued at about $150,000. Janney Montgomery Scott LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $49,093,000. Confluence Wealth Services Inc. bought a new stake in shares of ServiceNow during the third quarter worth approximately $286,000. Finally, Van ECK Associates Corp lifted its holdings in ServiceNow by 0.8% in the third quarter. Van ECK Associates Corp now owns 12,255 shares of the information technology services provider's stock valued at $11,124,000 after buying an additional 99 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow 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 sale, the chief financial officer now directly owns 11,126 shares of the company's stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 in the last quarter. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. Robert W. Baird lowered 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. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Royal Bank of Canada reissued an "outperform" rating and issued a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Mizuho boosted their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,129.72.

ServiceNow Stock Up 1.1 %

Shares of NYSE:NOW traded up $10.25 during trading on Wednesday, hitting $916.34. 1,520,464 shares of the company were exchanged, compared to its average volume of 1,664,521. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock has a market cap of $188.77 billion, a price-to-earnings ratio of 134.16, a P/E/G ratio of 4.51 and a beta of 0.99. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $1,030.51 and a two-hundred day moving average price of $985.06.

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

ServiceNow announced that its board has initiated a share 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is 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.