Savant Capital LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Savant Capital LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,924 shares of the information technology services provider’s stock after purchasing an additional 248 shares during the period. Savant Capital LLC’s holdings in ServiceNow were worth $3,100,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in ServiceNow in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $37,000. Oakworth Capital Inc. boosted its stake in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $95,554.76. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,077,066.58. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kevin Thomas Mcbride sold 100 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the completion of the transaction, the insider now owns 3,457 shares in the company, valued at approximately $3,539,864.29. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,809 shares of company stock worth $25,174,184 over the last quarter. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOW. 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 research note on Friday, January 10th. Sanford C. Bernstein upped their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler upped their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup cut their price objective on shares of 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. Finally, Raymond James began coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. One research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Price Performance

ServiceNow stock opened at $1,008.63 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a market cap of $207.78 billion, a price-to-earnings ratio of 147.68, a PEG ratio of 4.76 and a beta of 0.99. The firm’s fifty day moving average is $1,079.78 and its 200 day moving average is $968.21.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting 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 forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has authorized a share buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are 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.