ServiceNow, Inc. (NYSE:NOW) Shares Bought by J.Safra Asset Management Corp

J.Safra Asset Management Corp raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 131.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 405 shares of the information technology services provider’s stock after acquiring an additional 230 shares during the period. J.Safra Asset Management Corp’s holdings in ServiceNow were worth $432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Truvestments Capital LLC acquired a new stake in ServiceNow during the third quarter valued at approximately $30,000. FPC Investment Advisory Inc. lifted its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter valued at $34,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at $37,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating for the company. Canaccord Genuity Group upped their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Guggenheim restated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research report on Wednesday, January 22nd. Piper Sandler upped their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Stock Down 0.5 %

ServiceNow stock opened at $906.15 on Wednesday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The firm’s fifty day simple moving average is $1,030.51 and its 200-day simple moving average is $985.06. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $186.67 billion, a P/E ratio of 132.67, a P/E/G ratio of 4.51 and a beta of 0.99.

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

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

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.