Beacon Pointe Advisors LLC Has $5.70 Million Position in ServiceNow, Inc. (NYSE:NOW)

Beacon Pointe Advisors LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,378 shares of the information technology services provider's stock after selling 1,252 shares during the period. Beacon Pointe Advisors LLC's holdings in ServiceNow were worth $5,701,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP acquired a new position in shares of ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow during the fourth quarter worth about $32,000. Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the 4th quarter worth about $34,000. Finally, FPC Investment Advisory Inc. increased its stake 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 valued at $34,000 after acquiring an additional 29 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Deborah Black sold 598 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the transaction, the director now directly owns 428 shares in the company, valued at approximately $402,418.44. This represents a 58.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Miller sold 2,282 shares of ServiceNow stock in a transaction on Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the completion of the sale, the director now owns 40,638 shares of the company's stock, valued at $41,883,148.32. This represents a 5.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,107 shares of company stock valued at $18,591,520. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Up 0.6 %

Shares of NYSE:NOW traded up $6.24 during mid-day trading on Monday, reaching $983.60. 360,347 shares of the company's stock were exchanged, compared to its average volume of 1,508,022. 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 twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a market capitalization of $203.61 billion, a price-to-earnings ratio of 144.03, a PEG ratio of 4.51 and a beta of 1.08. The business's fifty day moving average price is $839.29 and its 200-day moving average price is $968.74.

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

ServiceNow announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price objective on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. StockNews.com lowered ServiceNow from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. JMP Securities reiterated a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Oppenheimer increased their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group cut their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus price target of $1,041.00.

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.