Campbell Wealth Management Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Campbell Wealth Management bought a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 206 shares of the information technology services provider’s stock, valued at approximately $218,000.

A number of other hedge funds have also modified their holdings of NOW. CX Institutional raised its holdings in shares of ServiceNow by 1.2% in the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after buying an additional 13 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in shares of ServiceNow by 40.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 366 shares of the information technology services provider’s stock worth $327,000 after buying an additional 106 shares in the last quarter. Creative Planning raised its holdings in shares of ServiceNow by 8.1% in the 3rd quarter. Creative Planning now owns 55,887 shares of the information technology services provider’s stock worth $49,985,000 after buying an additional 4,170 shares in the last quarter. ERn Financial LLC acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $224,000. Finally, Kowal Investment Group LLC raised its holdings in shares of ServiceNow by 196.9% in the 3rd quarter. Kowal Investment Group LLC now owns 775 shares of the information technology services provider’s stock worth $693,000 after buying an additional 514 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.7 %

NOW stock opened at $989.70 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $203.88 billion, a P/E ratio of 144.90, a P/E/G ratio of 4.76 and a beta of 0.99. The business has a 50-day moving average of $1,075.99 and a 200-day moving average of $969.56. 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 posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of research firms recently weighed in on NOW. Guggenheim reaffirmed a “sell” rating and set a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. Jefferies Financial Group dropped their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Barclays raised their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, TD Cowen raised their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 3,027 shares in the company, valued at approximately $3,077,066.58. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Larry Quinlan sold 415 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the sale, the director now owns 1,322 shares in the company, valued at $1,335,828.12. The trade was a 23.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,257 shares of company stock worth $23,579,376. Corporate insiders own 0.25% of the company’s stock.

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.