Kolinsky Wealth Management LLC Has $1.07 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Kolinsky Wealth Management LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,005 shares of the information technology services provider’s stock after selling 11 shares during the quarter. ServiceNow comprises 0.7% of Kolinsky Wealth Management LLC’s portfolio, making the stock its 21st biggest position. Kolinsky Wealth Management LLC’s holdings in ServiceNow were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quarry LP acquired a new position in ServiceNow in the fourth quarter valued at about $27,000. Atala Financial Inc bought a new position in ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $32,000. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the fourth quarter worth $34,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the transaction, the general counsel now owns 4,332 shares of the company’s stock, valued at $4,431,636. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,096,621. The trade was a 2.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,061 shares of company stock valued at $9,515,766. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $1,020.53 on Wednesday. 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, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The firm has a market cap of $211.25 billion, a P/E ratio of 149.42, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The business’s fifty day moving average is $871.37 and its 200-day moving average is $974.45.

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

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on NOW shares. 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. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research note on Thursday, April 24th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,003.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Raymond James reduced their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.