ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 38.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,763 shares of the information technology services provider’s stock after purchasing an additional 486 shares during the quarter. Fidelis Capital Partners LLC’s holdings in ServiceNow were worth $1,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Financial Advocates Investment Management raised its holdings in ServiceNow by 5.5% during the third quarter. Financial Advocates Investment Management now owns 556 shares of the information technology services provider’s stock worth $497,000 after purchasing an additional 29 shares in the last quarter. Farther Finance Advisors LLC raised its stake in ServiceNow by 7.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,250 shares of the information technology services provider’s stock worth $2,907,000 after acquiring an additional 224 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in ServiceNow by 5.1% in the third quarter. Chicago Partners Investment Group LLC now owns 726 shares of the information technology services provider’s stock valued at $659,000 after acquiring an additional 35 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in ServiceNow in the third quarter valued at $150,000. Finally, Optas LLC grew its holdings in shares of ServiceNow by 13.7% during the third quarter. Optas LLC now owns 937 shares of the information technology services provider’s stock worth $838,000 after purchasing an additional 113 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Oppenheimer increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Truist Financial raised their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Trading Up 0.9 %

Shares of NOW stock opened at $929.56 on Monday. The stock has a market cap of $191.49 billion, a P/E ratio of 136.10, a P/E/G ratio of 4.51 and a beta of 0.99. 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 fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The business has a fifty day simple moving average of $1,038.07 and a 200-day simple moving average of $983.95.

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

ServiceNow declared that its board has approved a stock buyback plan 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

ServiceNow 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.