254 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Whipplewood Advisors LLC

Whipplewood Advisors LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 254 shares of the information technology services provider’s stock, valued at approximately $269,000.

A number of other hedge funds also recently bought and sold shares of NOW. Truvestments Capital LLC bought a new stake in ServiceNow during the third quarter valued at about $30,000. FPC Investment Advisory Inc. boosted its holdings in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the period. Heck Capital Advisors LLC bought a new stake in ServiceNow during the fourth quarter valued at about $37,000. Stonebridge Financial Group LLC bought a new stake in ServiceNow during the fourth quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust bought a new stake in ServiceNow during the fourth quarter valued at about $40,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NYSE NOW opened at $920.73 on Friday. The firm has a market cap of $189.67 billion, a price-to-earnings ratio of 134.81, a PEG ratio of 4.51 and a beta of 0.99. The company has a 50 day moving average of $1,041.30 and a 200-day moving average of $980.81. 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, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting 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 analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on NOW. Redburn Atlantic began coverage on shares of ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating for the company. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price for the company. The Goldman Sachs Group increased their target price 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. Needham & Company LLC increased their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group reduced their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Activity

In related news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 over the last three months. 0.25% of the stock is owned by insiders.

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.