ServiceNow, Inc. (NYSE:NOW) is WD Rutherford LLC’s 8th Largest Position

WD Rutherford LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,132 shares of the information technology services provider’s stock after purchasing an additional 117 shares during the quarter. ServiceNow accounts for 2.6% of WD Rutherford LLC’s holdings, making the stock its 8th largest holding. WD Rutherford LLC’s holdings in ServiceNow were worth $5,441,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Polymer Capital Management HK LTD increased its holdings in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after purchasing an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow in the fourth quarter valued at $48,802,000. Dock Street Asset Management Inc. grew its stake in shares of ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after buying an additional 1,105 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after acquiring an additional 138 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after acquiring an additional 765 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.4 %

NOW stock opened at $985.67 on Friday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $203.05 billion, a price-to-earnings ratio of 144.31, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The company has a fifty day moving average price of $1,070.53 and a 200 day moving average price of $971.00.

ServiceNow (NYSE:NOW) last released 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 return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NOW shares. Evercore ISI boosted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus increased their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group cut their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Citigroup decreased their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 81 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the completion of the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This represents a 1.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,257 shares of company stock worth $23,579,376. 0.25% of the stock is currently owned by insiders.

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.