ServiceNow, Inc. (NYSE:NOW) Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,541 shares of the information technology services provider’s stock after selling 22 shares during the period. Jefferies Financial Group Inc.’s holdings in ServiceNow were worth $1,634,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NOW. Cooper Financial Group acquired a new position in shares of ServiceNow during the fourth quarter worth $218,000. AdvisorNet Financial Inc increased its stake in ServiceNow by 34.4% during the 4th quarter. AdvisorNet Financial Inc now owns 129 shares of the information technology services provider’s stock worth $137,000 after buying an additional 33 shares during the period. Mayfair Advisory Group LLC acquired a new position in ServiceNow in the 4th quarter worth $215,000. Pines Wealth Management LLC purchased a new position in ServiceNow in the 4th quarter valued at about $497,000. Finally, Oak Thistle LLC acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $217,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 384 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total transaction of $378,869.76. Following the sale, the chief executive officer now owns 6,614 shares of the company’s stock, valued at $6,525,636.96. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,023 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $988.00, for a total value of $1,010,724.00. Following the completion of the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at $4,280,016. This trade represents a 19.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,056 shares of company stock valued at $14,421,814 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. UBS Group reissued a “buy” rating and set a $1,025.00 price target (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the company an “outperform” rating in a report on Wednesday, May 7th. Morgan Stanley raised their price objective on shares of ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

ServiceNow Trading Down 0.7%

Shares of NYSE:NOW opened at $1,029.76 on Thursday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. 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 company has a market cap of $213.16 billion, a PE ratio of 150.77, a P/E/G ratio of 4.51 and a beta of 0.97. The company’s 50-day moving average price is $853.85 and its 200 day moving average price is $971.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company posted $3.41 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current 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 shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is 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.