ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 12.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,258 shares of the information technology services provider’s stock after buying an additional 253 shares during the period. Wealthspire Advisors LLC’s holdings in ServiceNow were worth $2,394,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Sigma Planning Corp lifted its stake in ServiceNow by 1.7% during the 4th quarter. Sigma Planning Corp now owns 4,783 shares of the information technology services provider’s stock worth $5,071,000 after acquiring an additional 80 shares in the last quarter. Callan Capital LLC lifted its stake in ServiceNow by 3.4% during the 4th quarter. Callan Capital LLC now owns 1,779 shares of the information technology services provider’s stock worth $1,886,000 after acquiring an additional 58 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new position in ServiceNow during the 4th quarter worth about $718,000. Finally, Element Wealth LLC acquired a new position in ServiceNow during the 4th quarter worth about $223,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group decreased their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Needham & Company LLC upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Oppenheimer upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Redburn Atlantic started coverage on ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Down 3.1 %

Shares of NYSE:NOW opened at $937.79 on Monday. The stock has a market cap of $193.18 billion, a P/E ratio of 137.30, a P/E/G ratio of 4.51 and a beta of 0.99. The firm has a fifty day moving average price of $1,054.69 and a 200 day moving average price of $979.81. 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, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a share buyback 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 buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 1,184 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $980.08, for a total transaction of $1,160,414.72. Following the completion of the transaction, the insider now owns 4,204 shares in the company, valued at approximately $4,120,256.32. This represents a 21.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,264 shares of company stock worth $13,358,909 in the last 90 days. Company 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.