Braun Stacey Associates Inc. Sells 844 Shares of ServiceNow, Inc. (NYSE:NOW)

Braun Stacey Associates Inc. lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 34,083 shares of the information technology services provider’s stock after selling 844 shares during the period. ServiceNow accounts for 1.3% of Braun Stacey Associates Inc.’s portfolio, making the stock its 17th largest position. Braun Stacey Associates Inc.’s holdings in ServiceNow were worth $36,132,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Venturi Wealth Management LLC boosted its holdings in ServiceNow by 20.4% during the fourth quarter. Venturi Wealth Management LLC now owns 3,454 shares of the information technology services provider’s stock worth $3,662,000 after buying an additional 586 shares during the last quarter. Pinnbrook Capital Management LP acquired a new position in ServiceNow during the fourth quarter valued at approximately $2,978,000. Citizens & Northern Corp increased its stake in ServiceNow by 14.2% in the fourth quarter. Citizens & Northern Corp now owns 1,693 shares of the information technology services provider’s stock valued at $1,795,000 after purchasing an additional 211 shares in the last quarter. Empower Advisory Group LLC raised its holdings in ServiceNow by 2.6% in the fourth quarter. Empower Advisory Group LLC now owns 3,504 shares of the information technology services provider’s stock worth $3,715,000 after purchasing an additional 88 shares during the period. Finally, Pittenger & Anderson Inc. boosted its position in shares of ServiceNow by 1.4% during the fourth quarter. Pittenger & Anderson Inc. now owns 31,908 shares of the information technology services provider’s stock worth $33,826,000 after purchasing an additional 456 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,384,373.88. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,811 shares of company stock worth $11,159,073. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on NOW shares. TD Cowen raised their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Mizuho raised their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. JMP Securities reissued a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Citigroup cut their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

NYSE NOW opened at $985.67 on Tuesday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $1,070.53 and a two-hundred day simple moving average of $973.32. The firm has a market cap of $203.05 billion, a price-to-earnings ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.