Brown Shipley& Co Ltd Sells 328 Shares of ServiceNow, Inc. (NYSE:NOW)

Brown Shipley& Co Ltd trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,906 shares of the information technology services provider's stock after selling 328 shares during the period. ServiceNow accounts for approximately 4.7% of Brown Shipley& Co Ltd's investment portfolio, making the stock its 6th biggest position. Brown Shipley& Co Ltd's holdings in ServiceNow were worth $9,441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC lifted its holdings in shares of ServiceNow by 78.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,617 shares of the information technology services provider's stock worth $1,714,000 after acquiring an additional 709 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $5,702,000. Delta Investment Management LLC increased its stake in shares of ServiceNow by 3.1% in the fourth quarter. Delta Investment Management LLC now owns 1,050 shares of the information technology services provider's stock valued at $1,113,000 after buying an additional 32 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ServiceNow by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock valued at $2,814,433,000 after buying an additional 87,876 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $19,944,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW opened at $1,016.08 on Thursday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The business's fifty day moving average is $874.78 and its 200 day moving average is $974.74. 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 stock has a market cap of $210.33 billion, a P/E ratio of 148.77, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the business earned $3.41 EPS. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. Sell-side 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 authorized a stock repurchase 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 191 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $188,135.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,267,020. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,061 shares of company stock worth $9,515,766 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NOW shares. Piper Sandler lowered their price objective on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Raymond James lowered their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets upped their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Finally, Oppenheimer reissued an "outperform" rating and set a $1,100.00 target price (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

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.

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