ServiceNow, Inc. (NYSE:NOW) Shares Sold by AGF Management Ltd.

AGF Management Ltd. decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,670 shares of the information technology services provider’s stock after selling 9,817 shares during the period. ServiceNow comprises approximately 1.1% of AGF Management Ltd.’s holdings, making the stock its 17th biggest holding. AGF Management Ltd. owned about 0.10% of ServiceNow worth $226,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avantax Planning Partners Inc. raised its stake in ServiceNow by 1.6% during the fourth quarter. Avantax Planning Partners Inc. now owns 890 shares of the information technology services provider’s stock valued at $944,000 after buying an additional 14 shares in the last quarter. GC Wealth Management RIA LLC boosted its stake in ServiceNow by 1.6% in the fourth quarter. GC Wealth Management RIA LLC now owns 1,367 shares of the information technology services provider’s stock valued at $1,449,000 after acquiring an additional 21 shares during the period. SPX Gestao de Recursos Ltda bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $5,301,000. King Luther Capital Management Corp lifted its holdings in shares of ServiceNow by 10.7% in the 4th quarter. King Luther Capital Management Corp now owns 1,023 shares of the information technology services provider’s stock worth $1,085,000 after purchasing an additional 99 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its position in ServiceNow by 172.2% during the 4th quarter. Citizens Financial Group Inc. RI now owns 10,286 shares of the information technology services provider’s stock valued at $10,904,000 after purchasing an additional 6,507 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $781.60 on Tuesday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a market cap of $161.01 billion, a PE ratio of 114.44, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The firm has a fifty day moving average price of $1,011.72 and a two-hundred day moving average price of $985.64. 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 (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Insider Buying and Selling

In other news, Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the completion of the sale, the director now directly owns 1,737 shares of the company’s stock, valued at approximately $1,749,871.17. This trade represents a 19.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 in the last 90 days. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Needham & Company LLC lifted their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Guggenheim reissued a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. Robert W. Baird decreased their price target on shares of 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. Finally, JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

About ServiceNow

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.