O Neil Global Advisors Inc. Sells 450 Shares of ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

O Neil Global Advisors Inc. cut its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 14.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,710 shares of the information technology services provider’s stock after selling 450 shares during the quarter. ServiceNow comprises about 0.8% of O Neil Global Advisors Inc.’s holdings, making the stock its 12th biggest holding. O Neil Global Advisors Inc.’s holdings in ServiceNow were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the 3rd quarter worth approximately $30,000. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Heck Capital Advisors LLC bought a new position in ServiceNow in the fourth quarter worth $37,000. Stonebridge Financial Group LLC purchased a new position in ServiceNow during the fourth quarter valued at $37,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of ServiceNow during the 4th quarter valued at $40,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird dropped their price objective on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Mizuho upped their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Guggenheim reissued a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

Get Our Latest Stock Report on ServiceNow

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,806 shares of company stock worth $16,065,122. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 1.9 %

NYSE NOW opened at $968.19 on Friday. The company’s 50-day simple moving average is $1,058.36 and its two-hundred day simple moving average is $976.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a market capitalization of $199.45 billion, a price-to-earnings ratio of 141.76, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99.

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 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 analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock buyback plan 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About ServiceNow

(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.

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