Fourth Dimension Wealth LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Fourth Dimension Wealth LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 79 shares of the information technology services provider’s stock, valued at approximately $84,000.

Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after purchasing an additional 12,533 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in ServiceNow during the 4th quarter worth about $48,802,000. Dock Street Asset Management Inc. increased its holdings in ServiceNow by 3.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after purchasing an additional 1,105 shares in the last quarter. Rheos Capital Works Inc. bought a new position in ServiceNow during the 4th quarter worth about $10,071,000. Finally, FMR LLC increased its holdings in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 1.0%

Shares of NOW stock opened at $1,005.53 on Friday. The firm has a 50 day moving average price of $881.74 and a two-hundred day moving average price of $975.40. 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 company has a market capitalization of $208.14 billion, a PE ratio of 147.22, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the business posted $3.41 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the firm’s 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 transaction of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock worth $5,230,568 over the last three months. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays set a $1,085.00 target price on ServiceNow in a report on Wednesday, May 7th. Oppenheimer restated an “outperform” rating and issued a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Robert W. Baird raised their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Morgan Stanley raised their price objective on ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group decreased their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,062.50.

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.