GHP Investment Advisors Inc. Has $223,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

GHP Investment Advisors Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 9.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 210 shares of the information technology services provider’s stock after purchasing an additional 18 shares during the period. GHP Investment Advisors Inc.’s holdings in ServiceNow were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new stake in ServiceNow during the third quarter worth $30,000. Heck Capital Advisors LLC purchased a new position in ServiceNow during the 4th quarter worth $37,000. DT Investment Partners LLC grew its stake in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Oakworth Capital Inc. raised its holdings 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 during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of ServiceNow during the fourth quarter valued at about $50,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

NYSE:NOW opened at $1,007.79 on Friday. 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 fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The business has a 50 day moving average price of $1,081.18 and a 200-day moving average price of $962.06. The firm has a market cap of $207.61 billion, a PE ratio of 147.55, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts predict that ServiceNow, Inc. will post 8.94 earnings per share for the current year.

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

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 2,511 shares of ServiceNow stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the sale, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,384,373.88. This trade represents a 36.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,702 shares of company stock valued at $20,965,306 over the last ninety days. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

NOW has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Stifel Nicolaus increased their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Cantor Fitzgerald initiated coverage on ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective on the stock. Guggenheim reaffirmed a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. Finally, Truist Financial boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

About ServiceNow

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.