Rosenblum Silverman Sutton S F Inc. CA Sells 195 Shares of ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Rosenblum Silverman Sutton S F Inc. CA lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 3.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,476 shares of the information technology services provider’s stock after selling 195 shares during the quarter. ServiceNow comprises 1.5% of Rosenblum Silverman Sutton S F Inc. CA’s holdings, making the stock its 26th largest holding. Rosenblum Silverman Sutton S F Inc. CA’s holdings in ServiceNow were worth $5,805,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Broderick Brian C increased its stake in ServiceNow by 100.0% in the 4th quarter. Broderick Brian C now owns 1,200 shares of the information technology services provider’s stock valued at $1,272,000 after buying an additional 600 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in ServiceNow by 353.5% during the 4th quarter. Landscape Capital Management L.L.C. now owns 1,891 shares of the information technology services provider’s stock valued at $2,005,000 after purchasing an additional 1,474 shares during the last quarter. PAX Financial Group LLC boosted its holdings in shares of ServiceNow by 21.0% during the 4th quarter. PAX Financial Group LLC now owns 658 shares of the information technology services provider’s stock worth $698,000 after buying an additional 114 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of ServiceNow by 1.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 3,458 shares of the information technology services provider’s stock valued at $3,665,000 after purchasing an additional 38 shares during the last quarter. Finally, Proem Advisors LLC bought a new position in ServiceNow during the 4th quarter worth $3,079,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. UBS Group lowered their price objective on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,087.21.

Read Our Latest Stock Analysis on ServiceNow

ServiceNow Stock Down 6.1 %

NYSE:NOW opened at $773.53 on Friday. The firm has a market cap of $159.35 billion, a PE ratio of 113.25, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The company has a 50-day moving average of $925.88 and a 200 day moving average of $981.19. 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 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW – Get Free Report) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated 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 of the company’s stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company Profile

(Free Report)

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.

See Also

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