676 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Vista Cima Wealth Management LLC

Vista Cima Wealth Management LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 676 shares of the information technology services provider’s stock, valued at approximately $717,000. ServiceNow comprises 0.7% of Vista Cima Wealth Management LLC’s holdings, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after buying an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD increased its stake in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC increased its stake in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Geode Capital Management LLC increased its stake in ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, Norges Bank acquired a new stake in ServiceNow during the fourth quarter worth about $2,603,360,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,040.22 on Monday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The business has a 50-day moving average of $863.52 and a two-hundred day moving average of $973.56. The stock has a market capitalization of $215.33 billion, a P/E ratio of 152.30, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.41 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,872 shares of company stock worth $13,261,400. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. Piper Sandler dropped their price target on ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,050.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Morgan Stanley increased their price target on ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Canaccord Genuity Group lowered their target price on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,062.50.

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.