Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $341.70 Million Position in ServiceNow, Inc. (NYSE:NOW)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,572 shares of the information technology services provider’s stock after selling 3,189 shares during the period. ServiceNow accounts for approximately 3.0% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 10th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.15% of ServiceNow worth $341,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LVW Advisors LLC grew its position in shares of ServiceNow by 34.4% in the third quarter. LVW Advisors LLC now owns 528 shares of the information technology services provider’s stock valued at $472,000 after purchasing an additional 135 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in ServiceNow by 116.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,740 shares of the information technology services provider’s stock worth $4,236,000 after acquiring an additional 2,550 shares during the period. First Affirmative Financial Network boosted its holdings in ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares during the period. Octavia Wealth Advisors LLC acquired a new stake in ServiceNow in the 3rd quarter worth $223,000. Finally, Perfromance Wealth Partners LLC increased its holdings in shares of ServiceNow by 134.5% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 973 shares of the information technology services provider’s stock worth $870,000 after purchasing an additional 558 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NOW shares. The Goldman Sachs Group lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Guggenheim restated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. Citigroup decreased 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. Royal Bank of Canada restated an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Oppenheimer lifted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Trading Down 1.5 %

NOW stock opened at $1,007.79 on Friday. The business has a fifty day moving average of $1,080.32 and a 200-day moving average of $963.81. The company has a market cap of $207.61 billion, a P/E ratio of 147.55, a PEG ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month 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 issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 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 expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a share buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,867 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the completion of the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $7,007,026.71. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,702 shares of company stock worth $20,965,306. Insiders own 0.25% of the company’s stock.

About ServiceNow

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.