SWS Partners Has $1.61 Million Stake in ServiceNow, Inc. (NYSE:NOW)

SWS Partners reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 16.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,515 shares of the information technology services provider’s stock after selling 293 shares during the quarter. SWS Partners’ holdings in ServiceNow were worth $1,606,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ring Mountain Capital LLC bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $290,000. Exencial Wealth Advisors LLC grew its stake in ServiceNow by 16.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 558 shares of the information technology services provider’s stock valued at $592,000 after buying an additional 79 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in ServiceNow by 39.6% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,502 shares of the information technology services provider’s stock valued at $1,604,000 after buying an additional 426 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ServiceNow by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,292,922 shares of the information technology services provider’s stock worth $1,370,652,000 after acquiring an additional 56,585 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in ServiceNow by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,477 shares of the information technology services provider’s stock worth $27,009,000 after acquiring an additional 617 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock valued at $20,050,076 over the last 90 days. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. JPMorgan Chase & Co. raised their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,210.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Robert W. Baird cut their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Redburn Atlantic started coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Canaccord Genuity Group boosted their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Stock Down 2.1 %

ServiceNow stock opened at $909.80 on Tuesday. 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 debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $187.42 billion, a price-to-earnings ratio of 133.21, a PEG ratio of 4.51 and a beta of 0.99. The company’s 50 day simple moving average is $1,034.50 and its 200 day simple moving average is $984.50.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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