ServiceNow, Inc. (NYSE:NOW) Shares Sold by KLCM Advisors Inc.

KLCM Advisors Inc. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000 shares of the information technology services provider’s stock after selling 1,000 shares during the period. KLCM Advisors Inc.’s holdings in ServiceNow were worth $1,060,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOW. Creative Planning raised its holdings in shares of ServiceNow by 8.1% during the third quarter. Creative Planning now owns 55,887 shares of the information technology services provider’s stock worth $49,985,000 after purchasing an additional 4,170 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of ServiceNow by 12.2% during the third quarter. Stratos Wealth Partners LTD. now owns 8,646 shares of the information technology services provider’s stock worth $7,733,000 after purchasing an additional 938 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in shares of ServiceNow by 15.2% during the third quarter. Capital Investment Advisors LLC now owns 2,717 shares of the information technology services provider’s stock worth $2,430,000 after purchasing an additional 359 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of ServiceNow by 0.3% during the third quarter. Commonwealth Equity Services LLC now owns 52,343 shares of the information technology services provider’s stock worth $46,815,000 after purchasing an additional 139 shares during the last quarter. Finally, Everett Harris & Co. CA purchased a new position in shares of ServiceNow during the third quarter worth $215,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $985.67 on Monday. The firm has a market capitalization of $203.05 billion, a PE ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm’s 50-day moving average price is $1,070.53 and its 200 day moving average price is $972.21. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last posted its quarterly 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, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding 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 programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,082 shares of company stock worth $23,401,482 in the last ninety days. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Sanford C. Bernstein lifted their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Piper Sandler lifted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Company 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.