ServiceNow, Inc. (NYSE:NOW) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 385,562 shares of the information technology services provider’s stock after selling 1,419 shares during the period. Stifel Financial Corp’s holdings in ServiceNow were worth $408,739,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. FMR LLC increased its position in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Geode Capital Management LLC raised its stake in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the period. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at $2,603,360,000. Finally, Jennison Associates LLC grew its stake in shares of ServiceNow by 17.4% during the 4th quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider’s stock valued at $2,493,520,000 after buying an additional 348,187 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NOW stock opened at $772.18 on Monday. The firm has a fifty day moving average of $852.94 and a two-hundred day moving average of $970.69. The firm has a market cap of $159.84 billion, a P/E ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting 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, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase 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 stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NOW shares. BMO Capital Markets cut their target price on ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. Truist Financial cut their price objective on ServiceNow from $1,100.00 to $950.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Robert W. Baird decreased their target price on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company cut their price target on shares of ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Guggenheim reiterated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, April 16th. One investment 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, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,057.17.

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.