ServiceNow, Inc. (NYSE:NOW) Shares Sold by Howard Bailey Securities LLC

Howard Bailey Securities LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 10.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 388 shares of the information technology services provider’s stock after selling 44 shares during the period. Howard Bailey Securities LLC’s holdings in ServiceNow were worth $411,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Ingalls & Snyder LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $219,000. Warren Street Wealth Advisors LLC boosted its stake in ServiceNow by 7.6% during the 4th quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the information technology services provider’s stock valued at $285,000 after purchasing an additional 19 shares in the last quarter. Clarity Capital Partners LLC acquired a new position in shares of ServiceNow during the 4th quarter valued at $292,000. Van ECK Associates Corp raised its stake in shares of ServiceNow by 2.5% in the 4th quarter. Van ECK Associates Corp now owns 12,556 shares of the information technology services provider’s stock worth $13,311,000 after buying an additional 301 shares in the last quarter. Finally, Values First Advisors Inc. lifted its holdings in shares of ServiceNow by 209.6% in the fourth quarter. Values First Advisors Inc. now owns 709 shares of the information technology services provider’s stock valued at $752,000 after buying an additional 480 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on NOW. Barclays boosted their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Truist Financial lifted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Sanford C. Bernstein boosted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Guggenheim reissued a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 81 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the completion of the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. The trade was a 1.17 % 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, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,224 shares of company stock worth $25,593,525. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Trading Down 2.7 %

Shares of NOW stock opened at $981.42 on Thursday. The firm’s fifty day simple moving average is $1,078.82 and its 200 day simple moving average is $969.48. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $202.17 billion, a P/E ratio of 143.69, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted 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, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated a stock 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

ServiceNow 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.