GWN Securities Inc. Purchases Shares of 84 ServiceNow, Inc. (NYSE:NOW)

GWN Securities Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, Holdings Channel reports. The fund purchased 84 shares of the information technology services provider’s stock, valued at approximately $89,000.

Several other institutional investors and hedge funds also recently modified their holdings of NOW. Altus Wealth Group LLC lifted its stake in shares of ServiceNow by 0.6% during the fourth quarter. Altus Wealth Group LLC now owns 2,844 shares of the information technology services provider’s stock valued at $3,015,000 after buying an additional 16 shares during the period. Corient Private Wealth LLC lifted its stake in shares of ServiceNow by 12.5% during the fourth quarter. Corient Private Wealth LLC now owns 296,113 shares of the information technology services provider’s stock valued at $312,926,000 after buying an additional 32,927 shares during the period. Avalon Trust Co lifted its stake in shares of ServiceNow by 75.0% during the fourth quarter. Avalon Trust Co now owns 133 shares of the information technology services provider’s stock valued at $141,000 after buying an additional 57 shares during the period. one8zero8 LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $366,000. Finally, Choate Investment Advisors lifted its stake in shares of ServiceNow by 15.0% during the fourth quarter. Choate Investment Advisors now owns 827 shares of the information technology services provider’s stock valued at $877,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW opened at $830.11 on Wednesday. The company has a fifty day simple moving average of $983.82 and a 200 day simple moving average of $985.60. The firm has a market cap of $171.00 billion, a price-to-earnings ratio of 121.54, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a share buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

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

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. Robert W. Baird reduced their price objective on shares of 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. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Oppenheimer upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $1,275.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. Finally, Truist Financial upped their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,100.31.

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.