Northern Financial Advisors Inc Sells 83 Shares of ServiceNow, Inc. (NYSE:NOW)

Northern Financial Advisors Inc decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,143 shares of the information technology services provider’s stock after selling 83 shares during the quarter. ServiceNow comprises approximately 1.8% of Northern Financial Advisors Inc’s investment portfolio, making the stock its 13th biggest holding. Northern Financial Advisors Inc’s holdings in ServiceNow were worth $2,272,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $30,000. Heck Capital Advisors LLC acquired a new stake in ServiceNow during the 4th quarter worth $37,000. Stonebridge Financial Group LLC bought a new position in ServiceNow during the fourth quarter worth about $37,000. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the period. Finally, Avion Wealth increased its holdings in shares of ServiceNow by 44.8% in the fourth quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $989.70 on Friday. The stock has a market cap of $203.88 billion, a PE ratio of 144.90, 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 $1,075.99 and its two-hundred day moving average price is $969.56.

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

ServiceNow declared that its board has authorized a share buyback plan 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 plans are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Larry Quinlan sold 415 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the transaction, the director now directly owns 1,322 shares of the company’s stock, valued at $1,335,828.12. The trade was a 23.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $95,554.76. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,077,066.58. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,257 shares of company stock worth $23,579,376. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NOW shares. Barclays lifted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial lifted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Guggenheim reissued a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group reduced their target price on shares of 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,129.72.

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.