ServiceNow, Inc. (NYSE:NOW) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,126 shares of the information technology services provider’s stock after selling 100 shares during the period. Principle Wealth Partners LLC’s holdings in ServiceNow were worth $2,254,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NOW. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the third quarter worth approximately $30,000. Heck Capital Advisors LLC acquired a new position in ServiceNow in the 4th quarter valued at about $37,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. Oakworth Capital Inc. lifted its position in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 1.3 %

Shares of NYSE:NOW opened at $1,021.52 on Tuesday. The company has a market capitalization of $210.43 billion, a P/E ratio of 149.56, a P/E/G ratio of 4.76 and a beta of 0.99. The stock’s fifty day simple moving average is $1,080.32 and its 200-day simple moving average is $966.85. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. 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 (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting 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, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has approved a share repurchase program 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Citigroup dropped their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Stifel Nicolaus raised their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays boosted their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $418,075.15. Following the transaction, the director now owns 1,737 shares in the company, valued at approximately $1,749,871.17. The trade was a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,702 shares of company stock worth $20,965,306. 0.25% of the stock is owned by insiders.

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.