ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Allworth Financial LP

Allworth Financial LP grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 134.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,613 shares of the information technology services provider’s stock after acquiring an additional 1,500 shares during the quarter. Allworth Financial LP’s holdings in ServiceNow were worth $2,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. Heck Capital Advisors LLC purchased a new stake in ServiceNow in the 4th quarter worth approximately $37,000. Stonebridge Financial Group LLC purchased a new stake in ServiceNow in the 4th quarter worth approximately $37,000. DT Investment Partners LLC boosted its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Finally, Avion Wealth boosted its position in ServiceNow by 44.8% in the 4th quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,811 shares of company stock worth $11,159,073. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group lowered their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Piper Sandler increased their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Stifel Nicolaus increased their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Truist Financial increased their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Stock Down 0.4 %

Shares of NOW opened at $985.67 on Tuesday. The firm has a market cap of $203.05 billion, a P/E ratio of 144.31, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company’s 50-day moving average price is $1,070.53 and its 200 day moving average price is $973.32. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

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

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