Allred Capital Management LLC Has $704,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Allred Capital Management LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 664 shares of the information technology services provider’s stock after selling 28 shares during the period. Allred Capital Management LLC’s holdings in ServiceNow were worth $704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Union Bancaire Privee UBP SA bought a new stake in shares of ServiceNow in the 4th quarter valued at about $48,802,000. Dock Street Asset Management Inc. raised its stake in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after buying an additional 1,105 shares during the period. Cardano Risk Management B.V. bought a new stake in ServiceNow in the fourth quarter valued at approximately $105,090,000. Rheos Capital Works Inc. acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $10,071,000. Finally, Czech National Bank boosted its stake in shares of ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock worth $47,486,000 after acquiring an additional 2,829 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 3.1 %

NOW stock opened at $772.18 on Friday. The stock has a market capitalization of $159.84 billion, a P/E ratio of 113.06, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $857.67 and a 200-day moving average price of $970.18. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued 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 net margin of 12.97% and a return on equity of 17.11%. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated 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 sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This trade 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 the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock valued at $19,853,273 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NOW. Morgan Stanley reduced their price objective on shares of ServiceNow from $960.00 to $881.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,048.00 target price on shares of ServiceNow in a research report on Wednesday. Finally, BMO Capital Markets dropped their price target on ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating for the company in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,057.17.

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.