Snowden Capital Advisors LLC Sells 186 Shares of ServiceNow, Inc. (NYSE:NOW)

Snowden Capital Advisors LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.7% in the fourth quarter, Holdings Channel reports. The firm owned 4,850 shares of the information technology services provider’s stock after selling 186 shares during the period. Snowden Capital Advisors LLC’s holdings in ServiceNow were worth $5,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in ServiceNow during the fourth quarter worth approximately $27,000. Atala Financial Inc bought a new stake in ServiceNow during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. boosted its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the period. Finally, Noble Wealth Management PBC bought a new stake in shares of ServiceNow in the fourth quarter valued at approximately $34,000. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 2,404 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $980.05, for a total value of $2,356,040.20. Following the completion of the sale, the insider now owns 6,244 shares of the company’s stock, valued at approximately $6,119,432.20. This trade represents a 27.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,872 shares of company stock worth $13,261,400 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. Truist Financial raised ServiceNow from a “hold” rating to a “buy” rating and increased their price objective for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. BMO Capital Markets increased their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley increased their price objective on ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Canaccord Genuity Group reduced their price objective on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

ServiceNow Stock Performance

ServiceNow stock opened at $1,040.22 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a fifty day moving average price of $863.52 and a two-hundred day moving average price of $973.12. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The firm has a market capitalization of $215.33 billion, a P/E ratio of 152.30, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released 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 firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the company posted $3.41 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is 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.