Keudell Morrison Wealth Management Sells 79 Shares of ServiceNow, Inc. (NYSE:NOW)

Keudell Morrison Wealth Management cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.4% during the fourth quarter, Holdings Channel reports. The fund owned 762 shares of the information technology services provider’s stock after selling 79 shares during the quarter. Keudell Morrison Wealth Management’s holdings in ServiceNow were worth $808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new position in ServiceNow during the third quarter worth $30,000. DT Investment Partners LLC lifted its stake in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares during the period. Dunhill Financial LLC grew its stake in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares during the last quarter. Finally, Vestor Capital LLC bought a new position in ServiceNow in the 3rd quarter valued at about $48,000. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kevin Thomas Mcbride sold 100 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $102,397.00. Following the sale, the insider now directly owns 3,457 shares of the company’s stock, valued at approximately $3,539,864.29. This represents a 2.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction 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 sale, the insider now owns 3,027 shares of the company’s stock, 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 20,731 shares of company stock valued at $21,016,751 in the last ninety days. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 11.5 %

Shares of NOW stock opened at $1,011.67 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock’s fifty day simple moving average is $1,084.47 and its 200 day simple moving average is $952.71. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $208.40 billion, a P/E ratio of 148.12, a P/E/G ratio of 5.19 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($1.74). ServiceNow had a return on equity of 17.56% and a net margin of 12.97%. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.98 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOW. Guggenheim reissued a “sell” rating and set a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. Sanford C. Bernstein boosted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company raised their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.93.

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.