First Financial Bankshares Inc Sells 637 Shares of ServiceNow, Inc. (NYSE:NOW)

First Financial Bankshares Inc reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,224 shares of the information technology services provider’s stock after selling 637 shares during the quarter. First Financial Bankshares Inc’s holdings in ServiceNow were worth $22,500,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC increased its holdings in ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after purchasing an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in ServiceNow by 2.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after buying an additional 10 shares in the last quarter. Institute for Wealth Management LLC. raised its position in ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after buying an additional 11 shares during the last quarter. TBH Global Asset Management LLC lifted its stake in ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock valued at $320,000 after acquiring an additional 11 shares in the last quarter. Finally, Onefund LLC boosted its holdings in ServiceNow by 2.0% during the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after acquiring an additional 11 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $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 have sold 20,351 shares of company stock valued at $20,050,076 over the last three months. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. William Blair restated an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. Raymond James began coverage on ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price for the company. Royal Bank of Canada set a $986.00 price target on ServiceNow in a report on Tuesday, March 11th. Finally, Needham & Company LLC raised their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,100.31.

ServiceNow Stock Down 1.5 %

NOW opened at $830.11 on Wednesday. The firm has a market capitalization of $171.00 billion, a P/E ratio of 121.54, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a fifty day moving average price of $983.82 and a 200-day moving average price of $985.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities research 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 authorized a share buyback program 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board 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.