ServiceNow, Inc. (NYSE:NOW) Shares Sold by Totem Point Management LLC

Totem Point Management LLC reduced its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 21.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,481 shares of the information technology services provider's stock after selling 674 shares during the period. ServiceNow makes up 2.8% of Totem Point Management LLC's portfolio, making the stock its 14th largest holding. Totem Point Management LLC's holdings in ServiceNow were worth $2,630,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of ServiceNow in the third quarter valued at $9,833,000. Anchor Investment Management LLC raised its position in ServiceNow by 6.1% in the 3rd quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider's stock worth $1,220,000 after purchasing an additional 78 shares during the period. Stock Yards Bank & Trust Co. bought a new stake in ServiceNow in the third quarter worth about $202,000. World Investment Advisors LLC boosted its holdings in ServiceNow by 585.8% during the 3rd quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider's stock valued at $5,857,000 after acquiring an additional 5,594 shares during the period. Finally, Sfmg LLC purchased a new stake in shares of ServiceNow during the third quarter valued at $226,000. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a research report on Thursday. Jefferies Financial Group dropped their price target on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC lowered their price objective on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a research note on Thursday. William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Finally, Morgan Stanley boosted their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,032.94.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,250 shares of company stock valued at $19,853,273. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NYSE NOW traded up $7.51 on Friday, reaching $946.08. 2,886,611 shares of the company's stock traded hands, compared to its average volume of 1,504,302. The stock has a 50 day moving average price of $839.67 and a 200-day moving average price of $967.34. The firm has a market cap of $195.84 billion, a price-to-earnings ratio of 138.52, a P/E/G ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current 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.

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

ServiceNow declared that its board has authorized a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

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.