First Horizon Advisors Inc. Sells 100 Shares of ServiceNow, Inc. (NYSE:NOW)

First Horizon Advisors Inc. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 13.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 619 shares of the information technology services provider’s stock after selling 100 shares during the quarter. First Horizon Advisors Inc.’s holdings in ServiceNow were worth $656,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NOW. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter worth about $30,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the fourth quarter worth about $37,000. Stonebridge Financial Group LLC bought a new stake in shares of ServiceNow in the fourth quarter worth about $37,000. Bank of Jackson Hole Trust bought a new stake in shares of ServiceNow in the fourth quarter worth about $40,000. Finally, Avion Wealth grew its stake in shares of ServiceNow by 44.8% in the fourth quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 1.3 %

Shares of NOW stock opened at $926.32 on Tuesday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a fifty day moving average price of $1,050.62 and a 200-day moving average price of $980.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $190.82 billion, a price-to-earnings ratio of 135.63, a PEG ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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 analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,264 shares of company stock valued at $13,358,909 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NOW. Canaccord Genuity Group raised their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Robert W. Baird lowered their price objective on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group lowered their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Redburn Atlantic started coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,129.72.

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.