Northwest & Ethical Investments L.P. Sells 98 Shares of ServiceNow, Inc. (NYSE:NOW)

Northwest & Ethical Investments L.P. lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,226 shares of the information technology services provider’s stock after selling 98 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in ServiceNow were worth $20,381,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Atala Financial Inc acquired a new position in ServiceNow in the fourth quarter valued at about $28,000. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter valued at about $30,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow in the fourth quarter valued at about $32,000. FPC Investment Advisory Inc. raised its stake in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new position in ServiceNow in the fourth quarter valued at about $34,000. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $1,007.41, for a total transaction 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. The trade was a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last quarter. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $843.60 on Thursday. The company has a market cap of $173.78 billion, a price-to-earnings ratio of 123.51, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $979.74 and a 200-day moving average of $984.61.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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%. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows 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 management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on NOW shares. Oppenheimer boosted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird lowered their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Scotiabank lowered their target price on ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating for the company in a research note on Monday. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their target price on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,100.31.

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.