WESPAC Advisors SoCal LLC Has $3.89 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

WESPAC Advisors SoCal LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,671 shares of the information technology services provider’s stock after selling 223 shares during the period. WESPAC Advisors SoCal LLC’s holdings in ServiceNow were worth $3,892,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Rockline Wealth Management LLC increased its stake in shares of ServiceNow by 6.4% during the 4th quarter. Rockline Wealth Management LLC now owns 1,440 shares of the information technology services provider’s stock worth $1,526,000 after purchasing an additional 87 shares during the last quarter. Calamos Wealth Management LLC increased its stake in shares of ServiceNow by 0.7% during the 4th quarter. Calamos Wealth Management LLC now owns 11,871 shares of the information technology services provider’s stock worth $12,585,000 after purchasing an additional 85 shares during the last quarter. Trust Point Inc. increased its stake in shares of ServiceNow by 54.3% during the 4th quarter. Trust Point Inc. now owns 2,159 shares of the information technology services provider’s stock worth $2,289,000 after purchasing an additional 760 shares during the last quarter. Fourpath Capital Management LLC increased its stake in shares of ServiceNow by 1.4% during the 4th quarter. Fourpath Capital Management LLC now owns 2,191 shares of the information technology services provider’s stock worth $2,323,000 after purchasing an additional 30 shares during the last quarter. Finally, Optas LLC boosted its holdings in shares of ServiceNow by 1.5% during the 4th quarter. Optas LLC now owns 951 shares of the information technology services provider’s stock worth $1,008,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 0.4 %

NOW opened at $1,021.99 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $210.53 billion, a PE ratio of 149.63, a PEG ratio of 4.74 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The firm has a 50-day moving average price of $1,083.66 and a two-hundred day moving average price of $957.36.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.94 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on NOW shares. Canaccord Genuity Group upped their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Citigroup upped their price objective on shares of ServiceNow from $1,071.00 to $1,432.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BMO Capital Markets upped their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday. Finally, Mizuho upped their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,129.93.

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.