Moloney Securities Asset Management LLC Has $1.62 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Moloney Securities Asset Management LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 28.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,527 shares of the information technology services provider’s stock after selling 609 shares during the period. Moloney Securities Asset Management LLC’s holdings in ServiceNow were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. LVW Advisors LLC increased its position in shares of ServiceNow by 34.4% during the third quarter. LVW Advisors LLC now owns 528 shares of the information technology services provider’s stock worth $472,000 after acquiring an additional 135 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of ServiceNow by 116.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,740 shares of the information technology services provider’s stock worth $4,236,000 after buying an additional 2,550 shares during the period. First Affirmative Financial Network grew its holdings in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after buying an additional 12 shares in the last quarter. Octavia Wealth Advisors LLC bought a new stake in ServiceNow in the 3rd quarter valued at approximately $223,000. Finally, Perfromance Wealth Partners LLC boosted its position in ServiceNow by 134.5% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 973 shares of the information technology services provider’s stock worth $870,000 after acquiring an additional 558 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,007.79 on Friday. The stock has a market cap of $207.61 billion, a PE ratio of 147.55, a P/E/G ratio of 4.76 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The business’s 50-day moving average price is $1,080.32 and its two-hundred day moving average price is $963.81.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has authorized a stock repurchase plan 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Evercore ISI boosted their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned 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.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,702 shares of company stock worth $20,965,306. Insiders own 0.25% of the company’s stock.

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.