Northern Financial Advisors Inc Sells 83 Shares of ServiceNow, Inc. (NYSE:NOW)

Northern Financial Advisors Inc reduced its position in ServiceNow, Inc. (NYSE:NOW) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,143 shares of the information technology services provider’s stock after selling 83 shares during the period. ServiceNow accounts for approximately 1.8% of Northern Financial Advisors Inc’s portfolio, making the stock its 13th largest holding. Northern Financial Advisors Inc’s holdings in ServiceNow were worth $2,272,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Catalyst Financial Partners LLC lifted its stake in shares of ServiceNow by 1.3% during the 4th quarter. Catalyst Financial Partners LLC now owns 1,161 shares of the information technology services provider’s stock valued at $1,231,000 after buying an additional 15 shares in the last quarter. Ingalls & Snyder LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $219,000. Warren Street Wealth Advisors LLC lifted its position in shares of ServiceNow by 7.6% during the fourth quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the information technology services provider’s stock worth $285,000 after acquiring an additional 19 shares in the last quarter. Clarity Capital Partners LLC bought a new position in shares of ServiceNow in the fourth quarter worth $292,000. Finally, Van ECK Associates Corp grew its position in shares of ServiceNow by 2.5% in the fourth quarter. Van ECK Associates Corp now owns 12,556 shares of the information technology services provider’s stock valued at $13,311,000 after purchasing an additional 301 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.7 %

NOW stock opened at $989.70 on Friday. The company has a market capitalization of $203.88 billion, a PE ratio of 144.90, a P/E/G ratio of 4.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The firm’s 50-day moving average is $1,075.99 and its 200 day moving average is $969.56.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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 net margin of 12.97% and a return on equity of 17.11%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a stock buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Cantor Fitzgerald began coverage on shares of ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. Truist Financial lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group reduced their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction that occurred 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 directly owns 3,027 shares of the company’s stock, valued at $3,077,066.58. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,257 shares of company stock valued at $23,579,376 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.