ServiceNow, Inc. (NYSE:NOW) Stake Lessened by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 18.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,378 shares of the information technology services provider’s stock after selling 1,252 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in ServiceNow were worth $5,701,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NOW. Marshall & Sterling Wealth Advisors Inc. bought a new position in ServiceNow during the fourth quarter valued at approximately $642,000. Quarry LP acquired a new stake in shares of ServiceNow in the 4th quarter valued at $27,000. Mission Creek Capital Partners Inc. boosted its holdings in ServiceNow by 0.5% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 2,392 shares of the information technology services provider’s stock worth $2,536,000 after purchasing an additional 13 shares in the last quarter. Prosperity Consulting Group LLC increased its position in ServiceNow by 6.7% during the fourth quarter. Prosperity Consulting Group LLC now owns 1,056 shares of the information technology services provider’s stock worth $1,119,000 after buying an additional 66 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its holdings in ServiceNow by 23.4% during the fourth quarter. Johnson Financial Group Inc. now owns 495 shares of the information technology services provider’s stock valued at $504,000 after buying an additional 94 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. Oppenheimer raised their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird boosted their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. BMO Capital Markets dropped their target price on shares of ServiceNow from $990.00 to $950.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,032.94.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey A. Miller sold 2,282 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the completion of the transaction, the director now owns 40,638 shares in the company, valued at $41,883,148.32. This represents a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,618 shares of company stock worth $21,132,878 over the last three months. 0.38% of the stock is currently owned by company insiders.

ServiceNow Trading Up 0.6 %

Shares of NYSE NOW opened at $942.79 on Wednesday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a 50-day moving average of $837.19 and a two-hundred day moving average of $967.68. The company has a market cap of $195.16 billion, a PE ratio of 138.04, a P/E/G ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

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

ServiceNow announced that its board has authorized a stock buyback program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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.