35 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 35 shares of the information technology services provider’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BostonPremier Wealth LLC bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $436,000. Summit Trail Advisors LLC lifted its holdings in ServiceNow by 18.9% during the fourth quarter. Summit Trail Advisors LLC now owns 2,646 shares of the information technology services provider’s stock valued at $2,806,000 after purchasing an additional 420 shares in the last quarter. Focus Financial Network Inc. boosted its position in shares of ServiceNow by 32.7% in the fourth quarter. Focus Financial Network Inc. now owns 17,617 shares of the information technology services provider’s stock worth $18,676,000 after purchasing an additional 4,344 shares during the period. Panoramic Capital Partners LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth $294,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new stake in shares of ServiceNow during the 4th quarter valued at $207,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $989.70 on Friday. The firm has a market capitalization of $203.88 billion, a PE ratio of 144.90, a PEG ratio of 4.76 and a beta of 0.99. The stock’s fifty day moving average is $1,075.99 and its 200 day moving average is $969.56. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last posted 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 net margin of 12.97% and a return on equity of 17.11%. On average, sell-side analysts anticipate 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 authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup decreased their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Scotiabank initiated coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,077,066.58. The trade was a 3.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now 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 ninety days, insiders have sold 23,257 shares of company stock worth $23,579,376. Insiders own 0.25% of the company’s stock.

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.