Callan Family Office LLC Invests $5.98 Million in ServiceNow, Inc. (NYSE:NOW)

Callan Family Office LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,645 shares of the information technology services provider’s stock, valued at approximately $5,984,000.

Several other hedge funds have also bought and sold shares of NOW. Truvestments Capital LLC bought a new stake in ServiceNow in the third quarter valued at approximately $30,000. FPC Investment Advisory Inc. lifted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the last quarter. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the 4th quarter worth about $34,000. Heck Capital Advisors LLC acquired a new position in ServiceNow in the 4th quarter valued at about $37,000. Finally, Stonebridge Financial Group LLC bought a new position in ServiceNow in the 4th quarter valued at about $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on NOW. Robert W. Baird decreased their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Wells Fargo & Company increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Cantor Fitzgerald began coverage on shares of ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price for the company. The Goldman Sachs Group upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Guggenheim reiterated a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Stock Down 5.5 %

Shares of NYSE:NOW opened at $865.79 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a market capitalization of $178.35 billion, a PE ratio of 126.76, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. The company has a fifty day moving average of $1,022.06 and a 200-day moving average of $983.75.

ServiceNow (NYSE:NOW) last announced its quarterly 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%. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last ninety days. 0.25% of the stock is currently owned by insiders.

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.