Valliance Asset Management Ltd Acquires Shares of 2,000 ServiceNow, Inc. (NYSE:NOW)

Valliance Asset Management Ltd acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the information technology services provider’s stock, valued at approximately $2,120,000. ServiceNow accounts for approximately 3.8% of Valliance Asset Management Ltd’s investment portfolio, making the stock its 6th largest holding.

Other institutional investors also recently bought and sold shares of the company. Wealthspire Advisors LLC boosted its stake in shares of ServiceNow by 12.6% in the fourth quarter. Wealthspire Advisors LLC now owns 2,258 shares of the information technology services provider’s stock worth $2,394,000 after acquiring an additional 253 shares during the last quarter. FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of ServiceNow by 1.7% in the fourth quarter. Sigma Planning Corp now owns 4,783 shares of the information technology services provider’s stock worth $5,071,000 after acquiring an additional 80 shares during the last quarter. Callan Capital LLC boosted its stake in shares of ServiceNow by 3.4% in the fourth quarter. Callan Capital LLC now owns 1,779 shares of the information technology services provider’s stock worth $1,886,000 after acquiring an additional 58 shares during the last quarter. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of ServiceNow in the fourth quarter worth approximately $718,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on NOW shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a research note on Thursday, January 30th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Guggenheim reiterated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Mizuho lifted their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the completion of the sale, the insider now directly owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This represents a 27.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 2,511 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the transaction, the general counsel now directly owns 4,332 shares of the company’s stock, valued at approximately $4,384,373.88. This trade represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,806 shares of company stock valued at $16,065,122 in the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 3.1 %

Shares of NYSE NOW opened at $937.79 on Friday. The business has a 50-day moving average price of $1,054.69 and a 200 day moving average price of $978.38. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $193.18 billion, a PE ratio of 137.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 return on equity of 17.11% and a net margin of 12.97%. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s management 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.