Howard Capital Management Inc. Buys 77 Shares of ServiceNow, Inc. (NYSE:NOW)

Howard Capital Management Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,279 shares of the information technology services provider’s stock after acquiring an additional 77 shares during the quarter. Howard Capital Management Inc.’s holdings in ServiceNow were worth $1,356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Truvestments Capital LLC bought a new position in ServiceNow in the third quarter worth about $30,000. FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the 4th quarter worth approximately $37,000. Stonebridge Financial Group LLC purchased a new stake in ServiceNow during the fourth quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in ServiceNow in the fourth quarter valued at approximately $40,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,023 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $988.00, for a total value of $1,010,724.00. Following the completion of the transaction, the general counsel now owns 4,332 shares of the company’s stock, valued at approximately $4,280,016. This represents a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,264 shares of company stock valued at $13,358,909. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Down 3.1 %

Shares of NYSE:NOW opened at $937.79 on Monday. The company has a market capitalization of $193.18 billion, a PE ratio of 137.30, a PEG ratio of 4.51 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. The business has a 50 day moving average of $1,054.69 and a two-hundred day moving average of $979.81. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

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

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

Analyst Ratings Changes

Several brokerages have recently commented on NOW. Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Citigroup decreased their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group upped their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.