Strategic Advisors LLC Acquires 309 Shares of ServiceNow, Inc. (NYSE:NOW)

Strategic Advisors LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 9.0% in the 4th quarter, HoldingsChannel reports. The firm owned 3,757 shares of the information technology services provider’s stock after purchasing an additional 309 shares during the quarter. ServiceNow accounts for approximately 0.7% of Strategic Advisors LLC’s portfolio, making the stock its 29th largest position. Strategic Advisors LLC’s holdings in ServiceNow were worth $3,983,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NOW. Truvestments Capital LLC bought a new position in ServiceNow in the 3rd quarter valued at $30,000. DT Investment Partners LLC increased its stake in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at $37,000. Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at $37,000. Finally, Oakworth Capital Inc. increased its stake in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. The Goldman Sachs Group lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Guggenheim reissued a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Mizuho lifted their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus lifted their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Oppenheimer lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $985.67 on Monday. The firm has a market cap of $203.05 billion, a price-to-earnings ratio of 144.31, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The stock’s 50-day moving average is $1,070.53 and its 200-day moving average is $972.21. ServiceNow, Inc. has a one year low of $637.99 and a one year 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.

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

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

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larry Quinlan sold 415 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the transaction, the director now directly owns 1,322 shares in the company, valued at approximately $1,335,828.12. This trade represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,082 shares of company stock worth $23,401,482. Corporate insiders own 0.25% of the company’s stock.

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.