Titan Global Capital Management USA LLC Has $22.58 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Titan Global Capital Management USA LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,302 shares of the information technology services provider's stock after selling 362 shares during the quarter. ServiceNow comprises about 3.4% of Titan Global Capital Management USA LLC's investment portfolio, making the stock its 14th largest holding. Titan Global Capital Management USA LLC's holdings in ServiceNow were worth $22,583,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NOW. Atala Financial Inc acquired a new stake in ServiceNow in the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. increased its stake in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the period. Noble Wealth Management PBC bought a new stake in ServiceNow during the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in ServiceNow in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NOW. Jefferies Financial Group cut their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday. BMO Capital Markets reduced their target price on shares of ServiceNow from $1,185.00 to $990.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Robert W. Baird cut their price objective on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $1,275.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. Finally, Bank of America decreased their price target on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,059.80.

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ServiceNow Stock Up 2.0 %

Shares of NOW traded up $16.17 during trading hours on Tuesday, hitting $815.99. 834,877 shares of the company were exchanged, compared to its average volume of 1,465,685. The firm's 50 day moving average is $870.99 and its 200-day moving average is $973.31. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $168.91 billion, a PE ratio of 119.47, a PEG ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has authorized a share buyback 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares of the company's stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last quarter. Insiders own 0.25% of the company's stock.

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.