ServiceNow, Inc. (NYSE:NOW) Shares Sold by L & S Advisors Inc

L & S Advisors Inc reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 11.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,641 shares of the information technology services provider’s stock after selling 1,391 shares during the quarter. ServiceNow makes up 1.2% of L & S Advisors Inc’s portfolio, making the stock its 13th biggest position. L & S Advisors Inc’s holdings in ServiceNow were worth $11,281,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Atala Financial Inc bought a new position in ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $32,000. Noble Wealth Management PBC bought a new stake in ServiceNow during the fourth quarter worth approximately $34,000. Truvestments Capital LLC bought a new position in ServiceNow during the 3rd quarter valued at $30,000. Finally, FPC Investment Advisory Inc. raised its stake in shares of 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 in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock valued at $20,050,076 in the last 90 days. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research analyst reports. Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. Raymond James assumed coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Robert W. Baird reduced their price objective on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,093.76.

ServiceNow Stock Down 3.8 %

Shares of NYSE:NOW opened at $796.61 on Friday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a market capitalization of $164.10 billion, a PE ratio of 116.63, a P/E/G ratio of 4.51 and a beta of 1.03. The company’s fifty day moving average is $950.30 and its 200-day moving average is $983.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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 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 predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has authorized a share repurchase program 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.