Seeds Investor LLC Sells 27 Shares of ServiceNow, Inc. (NYSE:NOW)

Seeds Investor LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 308 shares of the information technology services provider’s stock after selling 27 shares during the quarter. Seeds Investor LLC’s holdings in ServiceNow were worth $327,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sagespring Wealth Partners LLC purchased a new position in shares of ServiceNow during the fourth quarter worth approximately $1,357,000. Optimize Financial Inc bought a new position in shares of ServiceNow during the 4th quarter valued at $2,209,000. Crux Wealth Advisors bought a new position in shares of ServiceNow during the 4th quarter valued at $212,000. Nicolet Bankshares Inc. raised its position in ServiceNow by 68.0% in the 4th quarter. Nicolet Bankshares Inc. now owns 652 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 264 shares during the period. Finally, Fortis Capital Advisors LLC lifted its stake in ServiceNow by 16.8% in the fourth quarter. Fortis Capital Advisors LLC now owns 2,679 shares of the information technology services provider’s stock worth $2,840,000 after purchasing an additional 386 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOW. Robert W. Baird decreased their price objective on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group decreased their price target on ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Thursday. Jefferies Financial Group dropped their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Stifel Nicolaus decreased their target price on shares of ServiceNow from $1,175.00 to $950.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Guggenheim reiterated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,073.93.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $785.78 on Monday. The firm’s 50-day moving average price is $875.51 and its 200-day moving average price is $973.89. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a market cap of $162.66 billion, a PE ratio of 115.05, a PEG ratio of 4.51 and a beta of 1.08. 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 posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

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