Berger Financial Group Inc Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Berger Financial Group Inc cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 199 shares of the information technology services provider’s stock after selling 28 shares during the quarter. Berger Financial Group Inc’s holdings in ServiceNow were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NOW. Norges Bank purchased a new stake in ServiceNow during the fourth quarter valued at about $2,603,360,000. Proficio Capital Partners LLC lifted its holdings in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after buying an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in ServiceNow in the fourth quarter valued at approximately $682,468,000. Price T Rowe Associates Inc. MD raised its stake in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in ServiceNow in the fourth quarter valued at approximately $393,868,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. Morgan Stanley boosted their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. BMO Capital Markets reduced their price target on shares of ServiceNow from $990.00 to $950.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group restated a “buy” rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,032.94.

Insider Activity at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,282 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the transaction, the director now owns 40,638 shares in the company, valued at $41,883,148.32. The trade was a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 2,511 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at $4,384,373.88. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,250 shares of company stock valued at $19,853,273. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $937.68 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $837.70 and a two-hundred day simple moving average of $967.86. The stock has a market cap of $194.10 billion, a price-to-earnings ratio of 137.29, a PEG ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. On average, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.