United Capital Financial Advisors LLC Sells 739 Shares of ServiceNow, Inc. (NYSE:NOW)

United Capital Financial Advisors LLC decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,895 shares of the information technology services provider's stock after selling 739 shares during the quarter. United Capital Financial Advisors LLC's holdings in ServiceNow were worth $14,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in ServiceNow in the 4th quarter worth about $2,603,360,000. Proficio Capital Partners LLC boosted its position in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after acquiring an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in ServiceNow in the fourth quarter valued at approximately $682,468,000. Raymond James Financial Inc. acquired a new position in ServiceNow during the fourth quarter worth approximately $393,868,000. Finally, Jennison Associates LLC raised its stake in ServiceNow by 17.4% during the fourth quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider's stock worth $2,493,520,000 after purchasing an additional 348,187 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $24.48 during trading on Friday, hitting $772.18. The stock had a trading volume of 1,802,088 shares, compared to its average volume of 1,480,412. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business has a fifty day moving average of $852.94 and a two-hundred day moving average of $969.52. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm has a market cap of $159.84 billion, a P/E ratio of 113.06, a PEG ratio of 4.51 and a beta of 1.08.

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

ServiceNow announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOW. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada set a $986.00 price target on ServiceNow in a research report on Tuesday, March 11th. Robert W. Baird cut their price objective on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research note on Wednesday. Finally, Mizuho lowered their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,057.17.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 2,511 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at $4,384,373.88. This represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Larry Quinlan sold 415 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the completion of the sale, the director now directly owns 1,737 shares of the company's stock, valued at approximately $1,749,871.17. This represents a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,250 shares of company stock valued at $19,853,273 over the last three months. Insiders own 0.38% of the company's stock.

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.