Ieq Capital LLC Purchases 1,018 Shares of ServiceNow, Inc. (NYSE:NOW)

Ieq Capital LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,142 shares of the information technology services provider’s stock after buying an additional 1,018 shares during the quarter. Ieq Capital LLC’s holdings in ServiceNow were worth $24,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in NOW. OLD National Bancorp IN increased its stake in shares of ServiceNow by 2.8% during the third quarter. OLD National Bancorp IN now owns 597 shares of the information technology services provider’s stock worth $534,000 after purchasing an additional 16 shares during the period. Foundations Investment Advisors LLC increased its stake in ServiceNow by 19.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider’s stock worth $558,000 after acquiring an additional 101 shares during the period. Oakworth Capital Inc. increased its stake in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the period. Calton & Associates Inc. bought a new position in ServiceNow during the 3rd quarter worth $291,000. Finally, Segment Wealth Management LLC increased its stake in ServiceNow by 39.3% during the 3rd quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider’s stock worth $634,000 after acquiring an additional 200 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 2,404 shares of ServiceNow stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the completion of the transaction, the insider now directly owns 6,244 shares of the company’s stock, valued at approximately $6,119,432.20. This trade represents a 27.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,806 shares of company stock valued at $16,065,122 in the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 1.1 %

Shares of NYSE:NOW opened at $986.61 on Thursday. The firm has a market cap of $203.24 billion, a P/E ratio of 144.45, a P/E/G ratio of 4.59 and a beta of 0.99. 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 business has a fifty day simple moving average of $1,061.97 and a 200 day simple moving average of $976.06.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a stock buyback program 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 programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on NOW shares. Sanford C. Bernstein raised their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Robert W. Baird lowered their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Stifel Nicolaus raised their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Finally, Cantor Fitzgerald started coverage on ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.