ServiceNow, Inc. (NYSE:NOW) Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. trimmed its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 85.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 515 shares of the information technology services provider's stock after selling 3,117 shares during the quarter. Clark Capital Management Group Inc.'s holdings in ServiceNow were worth $546,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NOW. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares during the period. Redhawk Wealth Advisors Inc. boosted its stake in shares of ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after acquiring an additional 10 shares in the last quarter. Institute for Wealth Management LLC. boosted its position in shares of ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after buying an additional 11 shares during the period. TBH Global Asset Management LLC boosted its position in shares of ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after buying an additional 11 shares during the period. Finally, Onefund LLC raised its holdings in shares of ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after acquiring an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the business'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 transaction, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deborah Black sold 598 shares of the company's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the sale, the director now directly owns 428 shares of the company's stock, valued at approximately $402,418.44. This trade represents a 58.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,844 shares of company stock worth $14,204,938 over the last quarter. Insiders own 0.38% of the company's stock.

ServiceNow Trading Down 0.6%

Shares of NYSE:NOW traded down $6.10 on Wednesday, hitting $1,030.62. The company had a trading volume of 662,240 shares, compared to its average volume of 1,515,052. The firm's 50-day simple moving average is $850.27 and its two-hundred day simple moving average is $971.49. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.90, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last released 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. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow's revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $3.41 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has initiated a stock buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $1,003.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Bank of America cut their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Royal Bank of Canada upped their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, Barclays set a $1,085.00 price target on shares of ServiceNow in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

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.