Conscious Wealth Investments LLC Sells 44 Shares of ServiceNow, Inc. (NYSE:NOW)

Conscious Wealth Investments LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,555 shares of the information technology services provider’s stock after selling 44 shares during the period. ServiceNow accounts for approximately 2.6% of Conscious Wealth Investments LLC’s holdings, making the stock its 11th biggest position. Conscious Wealth Investments LLC’s holdings in ServiceNow were worth $3,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. World Equity Group Inc. purchased a new stake in shares of ServiceNow during the fourth quarter worth about $952,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in ServiceNow by 6.6% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,956 shares of the information technology services provider’s stock valued at $39,178,000 after buying an additional 2,300 shares in the last quarter. MONECO Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $297,000. Forvis Mazars Wealth Advisors LLC purchased a new position in shares of ServiceNow in the fourth quarter worth $240,000. Finally, Howard Capital Management Inc. boosted its position in shares of ServiceNow by 6.4% during the fourth quarter. Howard Capital Management Inc. now owns 1,279 shares of the information technology services provider’s stock worth $1,356,000 after acquiring an additional 77 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 3.1 %

NYSE:NOW opened at $937.79 on Monday. The company has a market cap of $193.18 billion, a price-to-earnings ratio of 137.30, a price-to-earnings-growth ratio of 4.51 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. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $1,054.69 and a 200-day simple moving average of $979.81.

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

ServiceNow declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Jefferies Financial Group reduced their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. TD Cowen lifted their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Oppenheimer increased their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 2,404 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the transaction, the insider now owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This represents a 27.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 384 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total value of $378,869.76. Following the completion of the sale, the chief executive officer now owns 6,614 shares of the company’s stock, valued at $6,525,636.96. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,264 shares of company stock valued at $13,358,909. 0.25% of the stock is currently owned by company insiders.

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.