OneDigital Investment Advisors LLC Sells 389 Shares of ServiceNow, Inc. (NYSE:NOW)

OneDigital Investment Advisors LLC lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 5.2% in the 4th quarter, HoldingsChannel reports. The firm owned 7,085 shares of the information technology services provider’s stock after selling 389 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in ServiceNow were worth $7,511,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Atala Financial Inc purchased a new position in ServiceNow during the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter valued at $32,000. FPC Investment Advisory Inc. increased its holdings in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the period. Noble Wealth Management PBC bought a new position in shares of ServiceNow in the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This represents a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOW. Needham & Company LLC raised their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a report on Wednesday, April 16th. Bank of America reduced their target price on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Jefferies Financial Group dropped their price target on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Scotiabank cut their price objective on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,056.07.

ServiceNow Price Performance

Shares of NYSE NOW opened at $757.13 on Tuesday. The firm has a fifty day moving average of $848.45 and a 200 day moving average of $969.57. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a market cap of $156.73 billion, a PE ratio of 110.85, a PEG ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last issued its quarterly 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, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock buyback plan 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are 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.