Nilsine Partners LLC Acquires Shares of 242 ServiceNow, Inc. (NYSE:NOW)

Nilsine Partners LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 242 shares of the information technology services provider’s stock, valued at approximately $257,000.

A number of other large investors also recently modified their holdings of the company. Redhawk Wealth Advisors Inc. raised its holdings in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after buying an additional 10 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares during the period. First Affirmative Financial Network raised its stake in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares during the period. Finally, BluePointe Capital Management LLC grew its stake in shares of ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after purchasing an additional 12 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of NOW opened at $1,144.86 on Thursday. The firm has a fifty day simple moving average of $1,082.77 and a two-hundred day simple moving average of $950.94. The firm has a market cap of $235.84 billion, a PE ratio of 178.05, a P/E/G ratio of 5.11 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.74). ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. On average, equities analysts anticipate that ServiceNow, Inc. will post 7.06 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Jefferies Financial Group upped their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Royal Bank of Canada lifted their price target on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. JMP Securities boosted their price objective on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 21st. Finally, Evercore ISI raised their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,116.14.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s 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 transaction, the chief executive officer now owns 2,595 shares of the company’s stock, 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. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last quarter. Company insiders own 0.25% of the company’s stock.

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.