Souders Financial Advisors Buys 20 Shares of ServiceNow, Inc. (NYSE:NOW)

Souders Financial Advisors raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 272 shares of the information technology services provider’s stock after buying an additional 20 shares during the period. Souders Financial Advisors’ holdings in ServiceNow were worth $288,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in ServiceNow in the 3rd quarter valued at $30,000. FPC Investment Advisory Inc. grew its position in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter valued at $34,000. Heck Capital Advisors LLC bought a new position in ServiceNow in the 4th quarter valued at $37,000. Finally, Stonebridge Financial Group LLC bought a new position in ServiceNow in the 4th quarter valued at $37,000. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group upped their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Needham & Company LLC upped their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Scotiabank initiated coverage on ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Finally, Canaccord Genuity Group upped their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Buying and Selling

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

ServiceNow Stock Up 1.1 %

Shares of NOW stock opened at $916.34 on Thursday. The stock’s 50-day simple moving average is $1,026.73 and its 200-day simple moving average is $984.57. 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 firm has a market capitalization of $188.77 billion, a PE ratio of 134.16, a P/E/G ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

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, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

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.