By otakuyassine3@gmail.com 
Yoder Wealth Management Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 10.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256 shares of the information technology services provider’s stock after purchasing an additional 24 shares during the period. Yoder Wealth Management Inc.’s holdings in ServiceNow were worth $271,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. increased its position in shares of ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 10 shares during the period. Catalyst Financial Partners LLC increased its holdings in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the period. Institute for Wealth Management LLC. raised its position in ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after purchasing an additional 11 shares during the last quarter. First Affirmative Financial Network lifted its holdings in ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after buying an additional 12 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC boosted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group lowered their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday. Mizuho increased their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company lifted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given 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 a consensus rating of “Moderate Buy” and an average price target of $1,129.93.
View Our Latest Stock Report on ServiceNow
ServiceNow Trading Up 0.7 %
Shares of NOW stock opened at $1,020.17 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day simple moving average of $1,083.66 and a two-hundred day simple moving average of $954.46. The firm has a market capitalization of $210.16 billion, a PE ratio of 149.37, a PEG ratio of 5.19 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.
ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results 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 return on equity of 17.56% and a net margin of 12.97%. On average, analysts predict that ServiceNow, Inc. will post 8.98 EPS for the current fiscal year.
ServiceNow declared that its board has approved a stock repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign 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 stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by insiders.
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.
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