TBH Global Asset Management LLC Buys 11 Shares of ServiceNow, Inc. (NYSE:NOW)

TBH Global Asset Management LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 302 shares of the information technology services provider’s stock after purchasing an additional 11 shares during the period. TBH Global Asset Management LLC’s holdings in ServiceNow were worth $320,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. OLD National Bancorp IN grew its position in ServiceNow by 2.8% in the third quarter. OLD National Bancorp IN now owns 597 shares of the information technology services provider’s stock valued at $534,000 after purchasing an additional 16 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of ServiceNow by 19.3% during the third quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider’s stock worth $558,000 after purchasing an additional 101 shares during the period. Oakworth Capital Inc. increased its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares during the period. Calton & Associates Inc. acquired a new stake in shares of ServiceNow in the 3rd quarter valued at $291,000. Finally, Segment Wealth Management LLC boosted its stake in ServiceNow by 39.3% in the third quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider’s stock valued at $634,000 after buying an additional 200 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction that occurred 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 directly owns 3,649 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,806 shares of company stock worth $16,065,122. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Scotiabank initiated coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. The Goldman Sachs Group lifted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Trading Down 1.1 %

NYSE NOW opened at $986.61 on Thursday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a 50 day moving average price of $1,061.97 and a 200 day moving average price of $976.06. 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 firm has a market cap of $203.24 billion, a PE ratio of 144.45, a price-to-earnings-growth ratio of 4.59 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, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

ServiceNow 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.