244 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 244 shares of the information technology services provider’s stock, valued at approximately $241,000.

Other institutional investors also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC increased its position in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after purchasing an additional 9 shares in the last quarter. Institute for Wealth Management LLC. boosted its stake in ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after purchasing an additional 11 shares during the last quarter. TBH Global Asset Management LLC grew its holdings in shares of ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after buying an additional 11 shares in the last quarter. Onefund LLC raised its position in shares of ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock valued at $585,000 after buying an additional 11 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its position in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 11 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on NOW shares. Erste Group Bank raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Barclays set a $1,085.00 price target on ServiceNow in a report on Wednesday, May 7th. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, UBS Group restated a “buy” rating and issued a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,062.50.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at $4,431,636. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gina Mastantuono sold 84 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $85,932.00. Following the completion of the transaction, the chief financial officer now owns 11,218 shares of the company’s stock, valued at $11,476,014. The trade was a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,061 shares of company stock worth $9,515,766 in the last ninety days. 0.38% of the stock is owned by corporate insiders.

ServiceNow Price Performance

NOW opened at $1,025.55 on Tuesday. The stock’s 50-day moving average price is $867.15 and its 200 day moving average price is $974.13. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a market cap of $212.29 billion, a price-to-earnings ratio of 150.15, a PEG ratio of 4.51 and a beta of 0.97. 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 (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 earnings per share. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.