Asset Planning Inc Purchases Shares of 60 ServiceNow, Inc. (NYSE:NOW)

Asset Planning Inc purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 60 shares of the information technology services provider’s stock, valued at approximately $64,000.

A number of other large investors also recently bought and sold shares of NOW. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $30,000. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $37,000. Stonebridge Financial Group LLC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $37,000. DT Investment Partners LLC raised its stake in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Finally, Avion Wealth raised its stake in shares of ServiceNow by 44.8% during the 4th quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock worth $44,000 after buying an additional 13 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $985.67 on Friday. The business has a 50-day moving average of $1,073.31 and a 200 day moving average of $969.70. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market capitalization of $203.05 billion, a price-to-earnings ratio of 144.31, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. 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 return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,257 shares of company stock worth $23,579,376 in the last three months. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on NOW shares. Sanford C. Bernstein increased their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Guggenheim reissued a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Needham & Company LLC increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Cantor Fitzgerald started coverage on ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

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.