ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Broderick Brian C

Broderick Brian C raised its position in ServiceNow, Inc. (NYSE:NOW) by 100.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,200 shares of the information technology services provider’s stock after purchasing an additional 600 shares during the period. Broderick Brian C’s holdings in ServiceNow were worth $1,272,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Atala Financial Inc purchased a new stake in shares of ServiceNow in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the 4th quarter worth about $32,000. FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares during the period. Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the 4th quarter worth about $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW opened at $773.53 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 stock has a fifty day moving average price of $925.88 and a 200 day moving average price of $981.19. The company has a market cap of $159.35 billion, a P/E ratio of 113.25, a PEG ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NOW shares. Redburn Atlantic initiated coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. TD Cowen increased their target price 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. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Robert W. Baird reduced their price objective on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,087.21.

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.