Alta Wealth Advisors LLC Has $3.44 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Alta Wealth Advisors LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,246 shares of the information technology services provider’s stock after buying an additional 103 shares during the quarter. ServiceNow makes up approximately 1.5% of Alta Wealth Advisors LLC’s portfolio, making the stock its 15th largest position. Alta Wealth Advisors LLC’s holdings in ServiceNow were worth $3,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NOW. Institute for Wealth Management LLC. lifted its position in shares of ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after acquiring an additional 11 shares during the period. Evernest Financial Advisors LLC bought a new stake in ServiceNow during the fourth quarter worth about $216,000. Quantum Financial Planning Services Inc. acquired a new stake in ServiceNow during the fourth quarter worth about $265,000. Sonora Investment Management Group LLC increased its holdings in ServiceNow by 15.9% in the 4th quarter. Sonora Investment Management Group LLC now owns 437 shares of the information technology services provider’s stock valued at $463,000 after buying an additional 60 shares during the period. Finally, Oak Harvest Investment Services bought a new stake in shares of ServiceNow during the 4th quarter worth approximately $2,586,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group boosted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a report on Thursday. BMO Capital Markets lifted their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Piper Sandler increased their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Canaccord Genuity Group upped their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.93.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 11.5 %

Shares of ServiceNow stock opened at $1,011.67 on Friday. The firm has a market cap of $208.40 billion, a price-to-earnings ratio of 148.12, a PEG ratio of 5.19 and a beta of 0.99. The stock’s 50-day moving average is $1,084.47 and its 200 day moving average is $952.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($1.74). ServiceNow had a net margin of 12.97% and a return on equity of 17.56%. Equities research analysts anticipate that ServiceNow, Inc. will post 8.98 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in 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 a sign that the company’s board believes its stock is undervalued.

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.