Xponance Inc. Buys 1,402 Shares of ServiceNow, Inc. (NYSE:NOW)

Xponance Inc. grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 53,036 shares of the information technology services provider’s stock after purchasing an additional 1,402 shares during the quarter. ServiceNow accounts for approximately 0.5% of Xponance Inc.’s holdings, making the stock its 27th biggest position. Xponance Inc.’s holdings in ServiceNow were worth $56,225,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NOW. United Bank purchased a new position in ServiceNow during the 3rd quarter valued at about $480,000. Harbour Investments Inc. lifted its position in ServiceNow by 14.0% during the 3rd quarter. Harbour Investments Inc. now owns 269 shares of the information technology services provider’s stock valued at $241,000 after acquiring an additional 33 shares during the period. Accredited Investors Inc. purchased a new position in ServiceNow during the 3rd quarter valued at about $234,000. Atlanta Consulting Group Advisors LLC purchased a new position in ServiceNow during the 3rd quarter valued at about $384,000. Finally, Claro Advisors LLC raised its holdings in ServiceNow by 31.8% in the third quarter. Claro Advisors LLC now owns 1,195 shares of the information technology services provider’s stock worth $1,069,000 after buying an additional 288 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $843.03 on Tuesday. The firm has a 50-day moving average price of $988.28 and a 200-day moving average price of $985.78. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a market capitalization of $173.66 billion, a PE ratio of 123.43, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NOW. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Guggenheim restated a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Scotiabank cut their target price on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,108.03.

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.