Lewis Asset Management LLC Has $842,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

Lewis Asset Management LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 794 shares of the information technology services provider’s stock after selling 9 shares during the period. Lewis Asset Management LLC’s holdings in ServiceNow were worth $842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in ServiceNow during the third quarter valued at about $30,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the period. Oakworth Capital Inc. raised its stake in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Dunhill Financial LLC lifted its position in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the period. Finally, Vestor Capital LLC bought a new stake in ServiceNow in the 3rd quarter valued at $48,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Scotiabank assumed coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price on the stock. Robert W. Baird boosted their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,117.86.

Insider Activity

In related news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 81 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 2.2 %

NOW opened at $1,144.86 on Thursday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a market cap of $235.84 billion, a PE ratio of 178.05, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s fifty day moving average is $1,082.77 and its two-hundred day moving average is $950.94.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $3.67 by ($1.74). ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. Equities research analysts anticipate that ServiceNow, Inc. will post 7.06 EPS for the current year.

ServiceNow declared that its board has authorized a share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership 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.