ServiceNow, Inc. (NYSE:NOW) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors decreased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,512 shares of the information technology services provider's stock after selling 428 shares during the period. Captrust Financial Advisors' holdings in ServiceNow were worth $23,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NOW. Nordea Investment Management AB lifted its holdings in shares of ServiceNow by 15.7% in the 4th quarter. Nordea Investment Management AB now owns 596,743 shares of the information technology services provider's stock valued at $633,461,000 after purchasing an additional 81,180 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in ServiceNow by 3.2% in the fourth quarter. CWA Asset Management Group LLC now owns 3,605 shares of the information technology services provider's stock valued at $3,821,000 after buying an additional 113 shares during the last quarter. Boltwood Capital Management acquired a new position in shares of ServiceNow in the 4th quarter valued at $219,000. Neville Rodie & Shaw Inc. grew its position in ServiceNow by 1.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 2,659 shares of the information technology services provider's stock worth $2,819,000 after purchasing an additional 47 shares during the last quarter. Finally, Capital Market Strategies LLC grew its holdings in shares of ServiceNow by 2.4% during the fourth quarter. Capital Market Strategies LLC now owns 1,048 shares of the information technology services provider's stock worth $1,111,000 after buying an additional 25 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ServiceNow news, 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 in the company, valued at $402,418.44. This represents a 58.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,692 shares of company stock valued at $18,173,444 in the last 90 days. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays set a $1,085.00 price objective on shares of ServiceNow in a research note on Wednesday. William Blair reissued an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Sanford C. Bernstein restated an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Jefferies Financial Group dropped their target price on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Citigroup raised their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,048.55.

ServiceNow Trading Up 1.8 %

Shares of NOW traded up $17.72 on Wednesday, hitting $982.98. 1,729,532 shares of the stock traded hands, compared to its average volume of 1,512,662. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock's 50 day moving average is $842.03 and its two-hundred day moving average is $969.22. The firm has a market capitalization of $203.48 billion, a P/E ratio of 143.92, a P/E/G ratio of 4.51 and a beta of 0.97. 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 posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter last year, the firm earned $3.41 earnings per share. The business's revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated a stock repurchase program 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.