Visionary Wealth Advisors Acquires 48 Shares of ServiceNow, Inc. (NYSE:NOW)

Visionary Wealth Advisors grew its position in ServiceNow, Inc. (NYSE:NOW) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,671 shares of the information technology services provider’s stock after acquiring an additional 48 shares during the quarter. Visionary Wealth Advisors’ holdings in ServiceNow were worth $1,771,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $32,000. Noble Wealth Management PBC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $34,000. Finally, FPC Investment Advisory Inc. lifted its position in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 84 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $85,932.00. Following the completion of the sale, the chief financial officer now directly owns 11,218 shares of the company’s stock, valued at $11,476,014. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on 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 directly owns 4,332 shares of the company’s stock, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,061 shares of company stock valued at $9,515,766 over the last three months. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 1.4%

NYSE NOW opened at $1,025.55 on Tuesday. The stock has a fifty day moving average of $867.15 and a 200-day moving average of $974.13. The stock has a market capitalization of $212.29 billion, a P/E ratio of 150.15, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the firm earned $3.41 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Citigroup raised their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Barclays set a $1,085.00 target price on ServiceNow in a research report on Wednesday, May 7th. Bank of America cut their target price on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Stifel Nicolaus raised their target price on ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.