ServiceNow, Inc. (NYSE:NOW) Shares Bought by Coastline Trust Co

Coastline Trust Co lifted its position in ServiceNow, Inc. (NYSE:NOW) by 286.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58 shares of the information technology services provider’s stock after purchasing an additional 43 shares during the quarter. Coastline Trust Co’s holdings in ServiceNow were worth $61,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NOW. Curi RMB Capital LLC grew its position in ServiceNow by 19.1% during the 4th quarter. Curi RMB Capital LLC now owns 1,525 shares of the information technology services provider’s stock worth $1,617,000 after purchasing an additional 245 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in ServiceNow by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 287,180 shares of the information technology services provider’s stock valued at $304,454,000 after acquiring an additional 9,748 shares during the last quarter. Forum Financial Management LP grew its stake in shares of ServiceNow by 52.7% in the 4th quarter. Forum Financial Management LP now owns 806 shares of the information technology services provider’s stock valued at $855,000 after purchasing an additional 278 shares during the last quarter. Capital International Ltd. CA raised its stake in shares of ServiceNow by 1.3% during the fourth quarter. Capital International Ltd. CA now owns 22,212 shares of the information technology services provider’s stock worth $23,547,000 after purchasing an additional 286 shares during the last quarter. Finally, Capital Group Investment Management PTE. LTD. lifted its holdings in shares of ServiceNow by 1.7% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 4,827 shares of the information technology services provider’s stock worth $5,117,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 2,511 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at approximately $4,384,373.88. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock valued at $19,853,273 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $772.18 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $159.84 billion, a price-to-earnings ratio of 113.06, a PEG 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 firm has a 50 day moving average price of $852.94 and a 200 day moving average price of $970.14.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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 return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a research report on Wednesday. UBS Group reduced their price objective on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Bank of America cut their target price on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. Finally, Guggenheim reaffirmed a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.