Transcend Capital Advisors LLC Sells 606 Shares of ServiceNow, Inc. (NYSE:NOW)

Transcend Capital Advisors LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 30.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,376 shares of the information technology services provider’s stock after selling 606 shares during the quarter. Transcend Capital Advisors LLC’s holdings in ServiceNow were worth $1,459,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC grew its position in ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Bank of Montreal Can raised its holdings in ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares in the last quarter. FMR LLC grew its holdings in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after buying an additional 502,845 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of ServiceNow by 17.4% during the fourth quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider’s stock valued at $2,493,520,000 after acquiring an additional 348,187 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on NOW shares. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Robert W. Baird dropped their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Mizuho boosted their target price 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. Jefferies Financial Group dropped their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Stock Down 3.1 %

NOW opened at $937.79 on Friday. The stock has a market cap of $193.18 billion, a price-to-earnings ratio of 137.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s fifty day moving average is $1,054.69 and its 200 day moving average is $977.09. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,023 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total value of $1,010,724.00. Following the transaction, the general counsel now owns 4,332 shares of the company’s stock, valued at approximately $4,280,016. The trade was a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,806 shares of company stock valued at $16,065,122. Corporate insiders own 0.25% of the company’s stock.

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.