ServiceNow, Inc. (NYSE:NOW) Stock Holdings Lessened by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 29.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 803 shares of the information technology services provider's stock after selling 332 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in ServiceNow were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in ServiceNow during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter valued at $32,000. FPC Investment Advisory Inc. raised its holdings 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 acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $67,518.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,096,621. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,431,636. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,674 shares of company stock worth $2,510,213 in the last ninety days. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NOW shares. Jefferies Financial Group cut their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. Canaccord Genuity Group decreased their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JMP Securities reiterated a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Guggenheim increased their target price on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Stock Performance

Shares of NOW traded down $3.68 during mid-day trading on Thursday, reaching $1,017.62. The company had a trading volume of 859,917 shares, compared to its average volume of 1,522,131. The stock has a market capitalization of $210.63 billion, a P/E ratio of 148.83, a PEG ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The stock has a 50 day moving average of $892.91 and a two-hundred day moving average of $975.64. 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 (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 (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 EPS. On average, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

About ServiceNow

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.