Fiduciary Planning LLC Invests $305,000 in ServiceNow, Inc. (NYSE:NOW)

Fiduciary Planning LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 288 shares of the information technology services provider’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOW. Resonant Capital Advisors LLC raised its stake in ServiceNow by 5.0% during the fourth quarter. Resonant Capital Advisors LLC now owns 566 shares of the information technology services provider’s stock worth $600,000 after purchasing an additional 27 shares during the period. Catalina Capital Group LLC raised its stake in ServiceNow by 2.2% during the fourth quarter. Catalina Capital Group LLC now owns 729 shares of the information technology services provider’s stock worth $773,000 after purchasing an additional 16 shares during the period. S.A. Mason LLC purchased a new position in ServiceNow during the fourth quarter worth about $110,000. JB Capital LLC purchased a new position in ServiceNow during the fourth quarter worth about $219,000. Finally, Lynch Asset Management Inc. raised its stake in ServiceNow by 0.9% during the fourth quarter. Lynch Asset Management Inc. now owns 8,075 shares of the information technology services provider’s stock worth $8,560,000 after purchasing an additional 75 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.7 %

NOW stock opened at $1,020.17 on Monday. The company has a market cap of $210.16 billion, a price-to-earnings ratio of 149.37, a price-to-earnings-growth ratio of 4.74 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, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a fifty day moving average price of $1,083.66 and a 200 day moving average price of $957.36.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts expect that ServiceNow, Inc. will post 8.94 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted 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. Royal Bank of Canada reissued an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a research note on Thursday. BMO Capital Markets boosted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.93.

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.