V Square Quantitative Management LLC Cuts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

V Square Quantitative Management LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 4,063 shares of the information technology services provider’s stock after selling 36 shares during the quarter. ServiceNow accounts for 0.6% of V Square Quantitative Management LLC’s portfolio, making the stock its 21st largest position. V Square Quantitative Management LLC’s holdings in ServiceNow were worth $4,307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Avidian Wealth Enterprises LLC boosted its stake in shares of ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after purchasing an additional 9 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after buying an additional 10 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after buying an additional 11 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after acquiring an additional 11 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 12 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,077,066.58. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,257 shares of company stock valued at $23,579,376. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NOW. Robert W. Baird reduced their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Citigroup decreased their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Oppenheimer increased their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Scotiabank assumed coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $989.70 on Friday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The business’s 50-day simple moving average is $1,075.99 and its 200-day simple moving average is $969.56. The firm has a market cap of $203.88 billion, a price-to-earnings ratio of 144.90, a P/E/G ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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%. As a group, equities research 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 share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership 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.