ServiceNow, Inc. (NYSE:NOW) Holdings Lowered by Dynasty Wealth Management LLC

Dynasty Wealth Management LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,161 shares of the information technology services provider’s stock after selling 609 shares during the period. Dynasty Wealth Management LLC’s holdings in ServiceNow were worth $3,351,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Strategic Blueprint LLC acquired a new stake in shares of ServiceNow during the 3rd quarter valued at $241,000. Mutual Advisors LLC increased its stake in ServiceNow by 8.5% in the 3rd quarter. Mutual Advisors LLC now owns 3,804 shares of the information technology services provider’s stock worth $3,639,000 after purchasing an additional 299 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in ServiceNow by 41.8% during the third quarter. Pathway Financial Advisers LLC now owns 906 shares of the information technology services provider’s stock valued at $810,000 after buying an additional 267 shares in the last quarter. Cornerstone Wealth Group LLC boosted its holdings in shares of ServiceNow by 1.9% in the third quarter. Cornerstone Wealth Group LLC now owns 4,924 shares of the information technology services provider’s stock worth $4,404,000 after buying an additional 90 shares during the period. Finally, Financial Advocates Investment Management increased its position in shares of ServiceNow by 5.5% in the third quarter. Financial Advocates Investment Management now owns 556 shares of the information technology services provider’s stock worth $497,000 after acquiring an additional 29 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Citigroup dropped their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group lifted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction on 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 approximately $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 2.3 %

Shares of NOW opened at $920.73 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $189.67 billion, a price-to-earnings ratio of 134.81, a PEG ratio of 4.51 and a beta of 0.99. The stock has a fifty day moving average price of $1,041.30 and a two-hundred day moving average price of $980.81. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has authorized a stock repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.