Trinity Legacy Partners LLC Has $6.90 Million Position in ServiceNow, Inc. (NYSE:NOW)

Trinity Legacy Partners LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 6,506 shares of the information technology services provider’s stock after purchasing an additional 191 shares during the quarter. ServiceNow comprises 1.8% of Trinity Legacy Partners LLC’s portfolio, making the stock its 17th biggest holding. Trinity Legacy Partners LLC’s holdings in ServiceNow were worth $6,897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NOW. Foundations Investment Advisors LLC grew its position in shares of ServiceNow by 19.3% in the third quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider’s stock valued at $558,000 after purchasing an additional 101 shares during the last quarter. Segment Wealth Management LLC boosted its stake in ServiceNow by 39.3% in the 3rd quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider’s stock valued at $634,000 after purchasing an additional 200 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in ServiceNow by 44.0% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,076 shares of the information technology services provider’s stock valued at $963,000 after buying an additional 329 shares in the last quarter. Axecap Investments LLC bought a new position in ServiceNow during the 3rd quarter worth $985,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 384 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total value of $378,869.76. Following the completion of the transaction, the chief executive officer now owns 6,614 shares of the company’s stock, valued at $6,525,636.96. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,806 shares of company stock valued at $16,065,122. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. Raymond James began coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Truist Financial increased their target price 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. The Goldman Sachs Group raised their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Stifel Nicolaus upped their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Oppenheimer increased their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Down 1.9 %

ServiceNow stock opened at $968.19 on Friday. The firm has a 50 day simple moving average of $1,058.36 and a 200 day simple moving average of $976.01. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The firm has a market capitalization of $199.45 billion, a price-to-earnings ratio of 141.76, a P/E/G ratio of 4.60 and a beta of 0.99.

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

ServiceNow announced that its board has initiated a stock repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is 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.