Holistic Financial Partners Trims Stock Position in ServiceNow, Inc. (NYSE:NOW)

Holistic Financial Partners lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 504 shares of the information technology services provider’s stock after selling 70 shares during the period. Holistic Financial Partners’ holdings in ServiceNow were worth $534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NOW. Silver Oak Securities Incorporated lifted its holdings in shares of ServiceNow by 25.6% in the third quarter. Silver Oak Securities Incorporated now owns 632 shares of the information technology services provider’s stock valued at $554,000 after purchasing an additional 129 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of ServiceNow by 1.5% in the third quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock valued at $996,000 after purchasing an additional 16 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of ServiceNow by 30.3% during the third quarter. Arkadios Wealth Advisors now owns 2,642 shares of the information technology services provider’s stock valued at $2,363,000 after buying an additional 614 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in shares of ServiceNow by 2.2% during the third quarter. NorthCrest Asset Manangement LLC now owns 1,080 shares of the information technology services provider’s stock valued at $966,000 after buying an additional 23 shares during the period. Finally, Pathway Financial Advisers LLC lifted its stake in shares of 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 during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Mizuho upped their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group cut their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Finally, Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

Shares of NOW opened at $937.79 on Monday. The firm’s 50 day moving average is $1,054.69 and its 200-day moving average is $979.81. The stock has a market capitalization of $193.18 billion, a P/E ratio of 137.30, a P/E/G ratio of 4.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. Equities research analysts anticipate 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 repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,264 shares of company stock valued at $13,358,909 in the last quarter. Insiders own 0.25% of the company’s stock.

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.