Fiduciary Planning LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Fiduciary Planning LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 288 shares of the information technology services provider’s stock, valued at approximately $305,000.

A number of other hedge funds have also recently modified their holdings of NOW. Polymer Capital Management HK LTD lifted its stake in shares of ServiceNow by 57.0% during 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 buying an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow during the 4th quarter valued at $48,802,000. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after buying an additional 138 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of 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 valued at $2,565,000 after buying an additional 765 shares in the last quarter. Finally, Cardano Risk Management B.V. purchased a new position in shares of ServiceNow during the 4th quarter valued at $105,090,000. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated 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 sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 6.29 % 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 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on NOW shares. Evercore ISI lifted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays boosted their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Robert W. Baird decreased their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Thursday. Finally, Oppenheimer boosted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.93.

ServiceNow Price Performance

Shares of NOW stock opened at $1,020.17 on Monday. 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 capitalization of $210.16 billion, a P/E ratio of 149.37, a P/E/G ratio of 4.74 and a beta of 0.99. The company’s 50-day simple moving average is $1,083.66 and its two-hundred day simple moving average is $957.36. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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 analysts anticipate that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.