GWN Securities Inc. Purchases Shares of 84 ServiceNow, Inc. (NYSE:NOW)

GWN Securities Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 84 shares of the information technology services provider’s stock, valued at approximately $89,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. State Street Corp lifted its position in shares of ServiceNow by 2.6% during the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares during the last quarter. FMR LLC lifted its position in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the last quarter. World Investment Advisors LLC lifted its position in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 455 shares of the business’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 sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,351 shares of company stock valued at $20,050,076. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NOW shares. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Raymond James started coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective for the company. Oppenheimer boosted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group boosted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company boosted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.31.

ServiceNow Trading Down 1.5 %

Shares of ServiceNow stock opened at $830.11 on Wednesday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company’s 50-day simple moving average is $983.82 and its 200-day simple moving average is $985.60. The firm has a market cap of $171.00 billion, a price-to-earnings ratio of 121.54, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 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%. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.