AlphaCore Capital LLC Has $1 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

AlphaCore Capital LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 947 shares of the information technology services provider’s stock after selling 133 shares during the period. AlphaCore Capital LLC’s holdings in ServiceNow were worth $1,004,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in ServiceNow during the fourth quarter valued at $27,000. Atala Financial Inc acquired a new stake in ServiceNow during the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the fourth quarter valued at $32,000. Noble Wealth Management PBC acquired a new stake in ServiceNow during the fourth quarter valued at $34,000. Finally, FPC Investment Advisory Inc. boosted its position in ServiceNow by 725.0% during 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 during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In other news, CFO Gina Mastantuono sold 292 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the transaction, the chief financial officer now owns 11,198 shares in the company, valued at approximately $11,030,030. This represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was 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 owns 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,619 shares of company stock worth $5,230,568. Company insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $1,005.53 on Friday. The firm has a market cap of $208.14 billion, a price-to-earnings ratio of 147.22, a PEG ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company’s fifty day simple moving average is $881.74 and its 200 day simple moving average is $975.40.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Citigroup raised their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. Evercore ISI lifted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned 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 presently has an average rating of “Moderate Buy” and a consensus 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.