By otakuyassine3@gmail.com 
Stratos Wealth Advisors LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646 shares of the information technology services provider’s stock after acquiring an additional 69 shares during the period. Stratos Wealth Advisors LLC’s holdings in ServiceNow were worth $685,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Redhawk Wealth Advisors Inc. raised its stake in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 10 shares during the period. Catalyst Financial Partners LLC grew 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 buying an additional 11 shares in the last quarter. Institute for Wealth Management LLC. raised its position in shares of ServiceNow by 0.4% during the fourth 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 buying an additional 11 shares during the last quarter. First Affirmative Financial Network lifted its holdings in shares of ServiceNow by 1.4% in the third 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 in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Analyst Ratings Changes
NOW has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. BMO Capital Markets boosted their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Piper Sandler raised their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. 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, Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.
Get Our Latest Stock Analysis on NOW
Insiders Place Their Bets
In other news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 20,702 shares of company stock worth $20,965,306 in the last ninety days. 0.25% of the stock is owned by company insiders.
ServiceNow Trading Down 0.4 %
NYSE NOW opened at $1,022.95 on Friday. 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 $1,081.55 and its 200-day moving average price is $961.64. The stock has a market cap of $210.73 billion, a PE ratio of 149.77, a PEG ratio of 4.74 and a beta of 0.99. 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 – Get Free Report) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts forecast that ServiceNow, Inc. will post 8.94 earnings per share for the current year.
ServiceNow declared that its Board of Directors has initiated a stock buyback plan 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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.
Further Reading
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