V Square Quantitative Management LLC Sells 36 Shares of ServiceNow, Inc. (NYSE:NOW)

V Square Quantitative Management LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,063 shares of the information technology services provider’s stock after selling 36 shares during the quarter. ServiceNow comprises about 0.6% of V Square Quantitative Management LLC’s investment portfolio, making the stock its 21st largest holding. V Square Quantitative Management LLC’s holdings in ServiceNow were worth $4,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the 3rd quarter valued at $30,000. DT Investment Partners LLC grew its position in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the period. Heck Capital Advisors LLC bought a new stake in ServiceNow during the 4th quarter worth approximately $37,000. Stonebridge Financial Group LLC acquired a new stake in ServiceNow during the 4th quarter worth approximately $37,000. Finally, Oakworth Capital Inc. lifted its stake in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 2,511 shares of ServiceNow stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at approximately $4,384,373.88. This trade represents a 36.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,257 shares of company stock valued at $23,579,376. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 0.7 %

NYSE:NOW opened at $989.70 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock’s fifty day moving average price is $1,075.99 and its two-hundred day moving average price is $969.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $203.88 billion, a P/E ratio of 144.90, a P/E/G ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen increased their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Cantor Fitzgerald began coverage on ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price on the stock. Stifel Nicolaus upped their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Sandler raised their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.