Lewis Asset Management LLC Has $842,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

Lewis Asset Management LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 794 shares of the information technology services provider’s stock after selling 9 shares during the period. Lewis Asset Management LLC’s holdings in ServiceNow were worth $842,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Truvestments Capital LLC bought a new position in ServiceNow during the third quarter worth about $30,000. DT Investment Partners LLC lifted its position in shares of 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 buying an additional 17 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the period. Dunhill Financial LLC increased its holdings in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares during the last quarter. Finally, Vestor Capital LLC bought a new stake in ServiceNow in the 3rd quarter valued at $48,000. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group increased their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Oppenheimer increased their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,117.86.

ServiceNow Price Performance

ServiceNow stock opened at $1,144.86 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The stock has a market capitalization of $235.84 billion, a P/E ratio of 178.05, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The stock has a fifty day moving average of $1,082.77 and a 200-day moving average of $950.94.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $3.67 by ($1.74). ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. On average, sell-side analysts expect that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

ServiceNow announced that its board has authorized a share buyback 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now directly owns 10,467 shares of the company’s stock, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock worth $21,016,751 in the last three months. 0.25% of the stock is owned by corporate insiders.

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.