ServiceNow, Inc. (NYSE:NOW) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,896 shares of the information technology services provider’s stock after selling 2,521 shares during the quarter. ServiceNow makes up 0.9% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 11th biggest position. Segall Bryant & Hamill LLC’s holdings in ServiceNow were worth $64,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. United Bank acquired a new position in ServiceNow during the 3rd quarter worth $480,000. Kingsview Wealth Management LLC lifted its position in shares of ServiceNow by 8.0% during the third quarter. Kingsview Wealth Management LLC now owns 2,638 shares of the information technology services provider’s stock worth $2,359,000 after purchasing an additional 196 shares during the last quarter. Larson Financial Group LLC grew its stake in ServiceNow by 48.6% in the third quarter. Larson Financial Group LLC now owns 410 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 134 shares in the last quarter. Centaurus Financial Inc. increased its holdings in ServiceNow by 7.7% in the third quarter. Centaurus Financial Inc. now owns 857 shares of the information technology services provider’s stock valued at $766,000 after buying an additional 61 shares during the last quarter. Finally, Cahill Financial Advisors Inc. raised its stake in ServiceNow by 4.7% during the third quarter. Cahill Financial Advisors Inc. now owns 403 shares of the information technology services provider’s stock valued at $360,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $851.56 on Tuesday. The business has a 50 day moving average price of $968.10 and a two-hundred day moving average price of $985.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $175.42 billion, a price-to-earnings ratio of 124.68, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

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

ServiceNow declared that its Board of Directors has authorized a share buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOW. Royal Bank of Canada set a $986.00 price target on ServiceNow in a report on Tuesday, March 11th. Scotiabank lowered their target price on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,048.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $1,275.00 price objective on shares of ServiceNow in a research report on Tuesday, March 11th. Finally, Redburn Atlantic started coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,100.31.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

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.