Florida Financial Advisors LLC Purchases New Holdings in ServiceNow, Inc. (NYSE:NOW)

Florida Financial Advisors LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 207 shares of the information technology services provider’s stock, valued at approximately $219,000.

Other large investors have also recently made changes to their positions in the company. Atala Financial Inc acquired a new stake in ServiceNow during the 4th quarter worth $28,000. Truvestments Capital LLC acquired a new position in ServiceNow during the third quarter worth about $30,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow during the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the 4th quarter worth $34,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group reduced their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Oppenheimer upped their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Citigroup cut their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upped their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,100.31.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $860.50 on Wednesday. The company has a fifty day moving average of $964.71 and a two-hundred day moving average of $985.75. The company has a market capitalization of $177.26 billion, a PE ratio of 125.99, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. 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 announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting 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, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has approved 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board 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.