Checchi Capital Advisers LLC Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Checchi Capital Advisers LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,481 shares of the information technology services provider’s stock after buying an additional 22 shares during the quarter. Checchi Capital Advisers LLC’s holdings in ServiceNow were worth $1,570,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NOW. Allworth Financial LP boosted its holdings in ServiceNow by 1.5% in the third quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock worth $996,000 after purchasing an additional 16 shares during the period. Modera Wealth Management LLC acquired a new stake in ServiceNow during the third quarter worth about $244,000. J.W. Cole Advisors Inc. lifted its holdings in ServiceNow by 32.9% in the third quarter. J.W. Cole Advisors Inc. now owns 2,259 shares of the information technology services provider’s stock worth $2,020,000 after acquiring an additional 559 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in ServiceNow by 10.4% in the third quarter. Nisa Investment Advisors LLC now owns 62,941 shares of the information technology services provider’s stock valued at $56,294,000 after acquiring an additional 5,909 shares during the period. Finally, Orrstown Financial Services Inc. grew its holdings in shares of ServiceNow by 18.0% during the third quarter. Orrstown Financial Services Inc. now owns 726 shares of the information technology services provider’s stock valued at $649,000 after purchasing an additional 111 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the sale, the director now owns 10,467 shares in the company, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,706 shares of company stock valued at $17,644,106 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Down 0.6 %

NYSE NOW opened at $922.14 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $189.96 billion, a PE ratio of 135.01, a PEG ratio of 4.51 and a beta of 0.99. The firm has a 50-day simple moving average of $1,046.77 and a 200 day simple moving average of $981.50.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has authorized a stock 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on NOW. Canaccord Genuity Group upped their price objective on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. Citigroup decreased their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lifted their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Company 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.