Great Valley Advisor Group Inc. Has $7.86 Million Position in ServiceNow, Inc. (NYSE:NOW)

Great Valley Advisor Group Inc. lessened its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,412 shares of the information technology services provider's stock after selling 742 shares during the period. Great Valley Advisor Group Inc.'s holdings in ServiceNow were worth $7,858,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NOW. Quarry LP acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the 4th quarter valued at about $32,000. Noble Wealth Management PBC purchased a new position in ServiceNow during the fourth quarter worth approximately $34,000. Finally, FPC Investment Advisory Inc. grew its position in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

ServiceNow stock traded down $4.14 during trading hours on Thursday, hitting $1,017.16. 806,738 shares of the stock were exchanged, compared to its average volume of 1,521,917. The stock has a market capitalization of $210.53 billion, a P/E ratio of 148.81, a P/E/G ratio of 4.51 and a beta of 0.97. The business's 50-day moving average is $892.91 and its two-hundred day moving average is $975.64. 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, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm posted $3.41 EPS. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has approved a share repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 191 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $188,135.00. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at $4,267,020. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction dated Wednesday, April 16th. The stock was 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 of the company's stock, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,674 shares of company stock worth $2,510,213. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NOW shares. Stifel Nicolaus increased their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Piper Sandler dropped their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Morgan Stanley upped their target price on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada boosted their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price 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.