GHP Investment Advisors Inc. Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

GHP Investment Advisors Inc. raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 210 shares of the information technology services provider’s stock after buying an additional 18 shares during the quarter. GHP Investment Advisors Inc.’s holdings in ServiceNow were worth $223,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NOW. Redhawk Wealth Advisors Inc. boosted its stake in ServiceNow by 2.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the last quarter. Institute for Wealth Management LLC. boosted its position in shares of ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network grew its stake in shares of ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after buying an additional 12 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 12 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.5 %

NOW stock opened at $1,007.79 on Friday. The business’s 50-day moving average price is $1,081.18 and its 200-day moving average price is $962.06. The stock has a market cap of $207.61 billion, a P/E ratio of 147.55, a PEG ratio of 4.74 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 twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.94 EPS for the current year.

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

Analysts Set New Price Targets

NOW has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Robert W. Baird cut 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 report on Thursday, January 30th. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Evercore ISI increased their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Guggenheim restated a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,702 shares of company stock valued at $20,965,306. Company insiders own 0.25% of the company’s stock.

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.