ServiceNow, Inc. (NYSE:NOW) Shares Sold by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 7.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,083 shares of the information technology services provider’s stock after selling 93 shares during the period. Greenwich Wealth Management LLC’s holdings in ServiceNow were worth $1,148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. Avalon Trust Co grew its position in shares of ServiceNow by 75.0% in the 4th quarter. Avalon Trust Co now owns 133 shares of the information technology services provider’s stock valued at $141,000 after buying an additional 57 shares during the last quarter. one8zero8 LLC purchased a new stake in shares of ServiceNow in the fourth quarter valued at about $366,000. Choate Investment Advisors lifted its stake in shares of ServiceNow by 15.0% in the fourth quarter. Choate Investment Advisors now owns 827 shares of the information technology services provider’s stock valued at $877,000 after purchasing an additional 108 shares during the period. Natixis Advisors LLC lifted its stake in shares of ServiceNow by 2.0% in the fourth quarter. Natixis Advisors LLC now owns 307,965 shares of the information technology services provider’s stock valued at $326,480,000 after purchasing an additional 6,125 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of ServiceNow by 0.9% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,381 shares of the information technology services provider’s stock valued at $3,584,000 after purchasing an additional 30 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow 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 completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $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. Insiders have sold 20,351 shares of company stock valued at $20,050,076 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Up 4.2 %

NYSE:NOW opened at $845.75 on Friday. The company has a market cap of $174.22 billion, a P/E ratio of 123.83, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The business has a 50 day moving average price of $992.95 and a two-hundred day moving average price of $984.50.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Analyst Ratings Changes

Several brokerages have issued reports on NOW. UBS Group reduced their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. TD Cowen upped their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group dropped their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Scotiabank assumed coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. Finally, StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,114.24.

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.