3,032 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Guided Capital Wealth Management LLC

Guided Capital Wealth Management LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,032 shares of the information technology services provider’s stock, valued at approximately $3,214,000. ServiceNow accounts for approximately 2.9% of Guided Capital Wealth Management LLC’s holdings, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Thurston Springer Miller Herd & Titak Inc. boosted its position in ServiceNow by 14.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 729 shares of the information technology services provider’s stock worth $652,000 after purchasing an additional 94 shares in the last quarter. Procyon Advisors LLC boosted its position in ServiceNow by 83.7% in the 3rd quarter. Procyon Advisors LLC now owns 2,001 shares of the information technology services provider’s stock worth $1,788,000 after purchasing an additional 912 shares in the last quarter. Fiduciary Alliance LLC boosted its position in ServiceNow by 31.4% in the 3rd quarter. Fiduciary Alliance LLC now owns 427 shares of the information technology services provider’s stock worth $382,000 after purchasing an additional 102 shares in the last quarter. CX Institutional boosted its position in ServiceNow by 1.2% in the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after purchasing an additional 13 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in ServiceNow by 40.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 366 shares of the information technology services provider’s stock worth $327,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,809 shares of company stock valued at $25,174,184. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NOW shares. Cantor Fitzgerald started coverage on ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective on the stock. Scotiabank began coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. Barclays increased their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Down 1.3 %

Shares of NOW opened at $1,008.63 on Wednesday. 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 $207.78 billion, a PE ratio of 147.68, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The stock has a fifty day simple moving average of $1,079.78 and a two-hundred day simple moving average of $968.21. 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 (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.