Brown Advisory Inc. Sells 263,576 Shares of ServiceNow, Inc. (NYSE:NOW)

Brown Advisory Inc. reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,452,737 shares of the information technology services provider's stock after selling 263,576 shares during the quarter. ServiceNow comprises approximately 2.0% of Brown Advisory Inc.'s portfolio, making the stock its 10th biggest position. Brown Advisory Inc. owned approximately 0.71% of ServiceNow worth $1,540,075,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its stake in ServiceNow by 172.9% in the fourth quarter. Versant Capital Management Inc now owns 161 shares of the information technology services provider's stock valued at $171,000 after purchasing an additional 102 shares during the period. Nordea Investment Management AB increased its position in ServiceNow by 15.7% in the 4th quarter. Nordea Investment Management AB now owns 596,743 shares of the information technology services provider's stock valued at $633,461,000 after acquiring an additional 81,180 shares during the period. CWA Asset Management Group LLC raised its stake in ServiceNow by 3.2% during the 4th quarter. CWA Asset Management Group LLC now owns 3,605 shares of the information technology services provider's stock valued at $3,821,000 after acquiring an additional 113 shares during the last quarter. Boltwood Capital Management acquired a new stake in ServiceNow during the 4th quarter worth approximately $219,000. Finally, Neville Rodie & Shaw Inc. grew its stake in shares of ServiceNow by 1.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 2,659 shares of the information technology services provider's stock valued at $2,819,000 after purchasing an additional 47 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,692 shares of company stock worth $18,173,444 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Up 1.8 %

Shares of NYSE NOW traded up $17.72 during trading on Wednesday, reaching $982.98. 1,729,532 shares of the stock were exchanged, compared to its average volume of 1,512,662. The company has a market capitalization of $203.48 billion, a price-to-earnings ratio of 143.92, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The business's 50-day moving average price is $840.96 and its 200 day moving average price is $969.12. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the company posted $3.41 EPS. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a share buyback 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOW. Guggenheim upped their price target on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research note on Thursday, April 24th. Jefferies Financial Group reduced their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley boosted their price target on shares of ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Raymond James cut their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group reaffirmed a "buy" rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,048.55.

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.