Gulf International Bank UK Ltd Sells 171 Shares of ServiceNow, Inc. (NYSE:NOW)

Gulf International Bank UK Ltd lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,896 shares of the information technology services provider’s stock after selling 171 shares during the quarter. Gulf International Bank UK Ltd’s holdings in ServiceNow were worth $16,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in ServiceNow during the 3rd quarter worth $30,000. FPC Investment Advisory Inc. increased its position in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow in the fourth quarter worth $37,000. Finally, Bank of Jackson Hole Trust bought a new position in ServiceNow during the fourth quarter worth $40,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 2.1 %

Shares of NYSE NOW opened at $941.79 on Thursday. The stock has a market capitalization of $194.01 billion, a P/E ratio of 137.89, a PEG ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm’s 50 day simple moving average is $1,044.39 and its two-hundred day simple moving average is $981.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting 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 fiscal year.

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

Analyst Upgrades and Downgrades

NOW has been the topic of several research analyst reports. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Guggenheim reissued a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a report on Wednesday, January 22nd. Citigroup decreased 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. Robert W. Baird reduced their price objective on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction that occurred 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 owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,706 shares of company stock valued at $17,644,106 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.