Baader Bank Aktiengesellschaft Sells 201 Shares of ServiceNow, Inc. (NYSE:NOW)

Baader Bank Aktiengesellschaft trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,198 shares of the information technology services provider’s stock after selling 201 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in ServiceNow were worth $1,270,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in ServiceNow by 9.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,561 shares of the information technology services provider’s stock worth $13,027,000 after buying an additional 1,484 shares during the last quarter. Regal Investment Advisors LLC increased its position in shares of ServiceNow by 8.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 865 shares of the information technology services provider’s stock valued at $681,000 after purchasing an additional 66 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of ServiceNow by 9.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 2,206 shares of the information technology services provider’s stock valued at $1,736,000 after purchasing an additional 186 shares during the last quarter. KPP Advisory Services LLC increased its holdings in ServiceNow by 2.4% in the 2nd quarter. KPP Advisory Services LLC now owns 638 shares of the information technology services provider’s stock worth $502,000 after acquiring an additional 15 shares in the last quarter. Finally, Souders Financial Advisors purchased a new stake in ServiceNow in the 2nd quarter worth approximately $201,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 2.2 %

Shares of NOW stock opened at $1,144.86 on Thursday. The stock has a 50 day moving average of $1,082.77 and a 200 day moving average of $950.94. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $235.84 billion, a P/E ratio of 178.05, a P/E/G ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.74). ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. As a group, sell-side analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current year.

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

Analyst Ratings Changes

Several research firms have weighed in on NOW. UBS Group upped their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. JMP Securities increased their target price on ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 21st. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Robert W. Baird increased their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $1,116.14.

Insider Activity

In other news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock worth $21,016,751 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.