Foundations Investment Advisors LLC Has $625,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Foundations Investment Advisors LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 589 shares of the information technology services provider’s stock after selling 35 shares during the period. Foundations Investment Advisors LLC’s holdings in ServiceNow were worth $625,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Polymer Capital Management HK LTD raised its position in shares of 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 buying an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in ServiceNow in the fourth quarter valued at approximately $48,802,000. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in shares of ServiceNow in the 4th quarter valued at $105,090,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOW. BMO Capital Markets upped their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. The Goldman Sachs Group increased their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Raymond James started coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target on the stock. Mizuho increased their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.93.

ServiceNow Stock Performance

NYSE:NOW opened at $1,011.67 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a fifty day moving average of $1,085.21 and a 200-day moving average of $952.30. The firm has a market capitalization of $208.40 billion, a P/E ratio of 157.34, a P/E/G ratio of 5.11 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted 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 net margin of 12.77% and a return on equity of 16.03%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 7.06 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a stock buyback plan 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback 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.