Atria Investments Inc Has $26.53 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Atria Investments Inc trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.8% in the fourth quarter, HoldingsChannel reports. The firm owned 25,026 shares of the information technology services provider’s stock after selling 1,551 shares during the period. Atria Investments Inc’s holdings in ServiceNow were worth $26,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new position in shares of ServiceNow in the 3rd quarter valued at about $30,000. FPC Investment Advisory Inc. boosted its stake in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in ServiceNow in the fourth quarter worth $34,000. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at $37,000. Finally, Stonebridge Financial Group LLC acquired a new position in ServiceNow in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The stock was 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 owns 11,126 shares of the company’s stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last three months. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Mizuho raised their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Redburn Atlantic started coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Jefferies Financial Group cut their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Price Performance

Shares of NYSE NOW opened at $906.15 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $1,030.51 and its 200-day moving average price is $985.06. The firm has a market capitalization of $186.67 billion, a P/E ratio of 132.67, a P/E/G ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities research analysts anticipate 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 program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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.