Nicollet Investment Management Inc. Lowers Stake in ServiceNow, Inc. (NYSE:NOW)

Nicollet Investment Management Inc. trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,293 shares of the information technology services provider’s stock after selling 42 shares during the period. ServiceNow makes up 2.7% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 10th largest holding. Nicollet Investment Management Inc.’s holdings in ServiceNow were worth $7,731,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atala Financial Inc purchased a new stake in shares of ServiceNow in the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow in the 4th quarter worth approximately $32,000. Noble Wealth Management PBC purchased a new position in ServiceNow during the fourth quarter valued at $34,000. FPC Investment Advisory Inc. increased its holdings in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in ServiceNow in the 4th quarter worth approximately $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.0 %

Shares of NYSE NOW opened at $797.39 on Tuesday. The company has a market capitalization of $164.26 billion, a P/E ratio of 116.75, a P/E/G ratio of 4.51 and a beta of 1.03. 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 company has a 50 day simple moving average of $944.81 and a 200-day simple moving average of $984.23. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

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

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

Analyst Ratings Changes

A number of brokerages recently commented on NOW. TD Cowen increased their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. UBS Group decreased their target price on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Scotiabank reduced their target price on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Finally, The Goldman Sachs Group increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,088.59.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is currently owned by company insiders.

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.