Stephens Inc. AR Sells 943 Shares of ServiceNow, Inc. (NYSE:NOW)

Stephens Inc. AR trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,931 shares of the information technology services provider’s stock after selling 943 shares during the period. Stephens Inc. AR’s holdings in ServiceNow were worth $7,348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Howland Capital Management LLC boosted its stake in ServiceNow by 1.1% in the fourth quarter. Howland Capital Management LLC now owns 22,811 shares of the information technology services provider’s stock valued at $24,182,000 after acquiring an additional 258 shares during the last quarter. Quotient Wealth Partners LLC raised its holdings in shares of ServiceNow by 10.8% in the 4th quarter. Quotient Wealth Partners LLC now owns 864 shares of the information technology services provider’s stock worth $916,000 after purchasing an additional 84 shares during the period. Northeast Investment Management lifted its stake in ServiceNow by 21.2% in the fourth quarter. Northeast Investment Management now owns 22,985 shares of the information technology services provider’s stock valued at $24,367,000 after purchasing an additional 4,028 shares during the last quarter. Forbes J M & Co. LLP grew its holdings in ServiceNow by 0.4% during the fourth quarter. Forbes J M & Co. LLP now owns 5,422 shares of the information technology services provider’s stock valued at $5,748,000 after purchasing an additional 19 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its position in ServiceNow by 3.5% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,693 shares of the information technology services provider’s stock worth $3,915,000 after buying an additional 125 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NOW shares. Jefferies Financial Group cut their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Canaccord Genuity Group increased 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. Mizuho boosted their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Barclays boosted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,702 shares of company stock valued at $20,965,306 over the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $1,007.79 on Monday. The business’s 50-day moving average price is $1,080.32 and its 200-day moving average price is $965.20. The firm has a market capitalization of $207.61 billion, a PE ratio of 147.55, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month 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.

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, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership 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.