ServiceNow, Inc. (NYSE:NOW) Stock Position Increased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,765 shares of the information technology services provider’s stock after buying an additional 127 shares during the quarter. Kingsview Wealth Management LLC’s holdings in ServiceNow were worth $2,931,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after acquiring an additional 226,023 shares during the last quarter. FMR LLC boosted its position in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC increased its stake in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC raised its holdings in ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after buying an additional 78,378 shares during the period. Finally, Wellington Management Group LLP lifted its stake in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after buying an additional 615,797 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the transaction, the general counsel now owns 4,332 shares of the company’s stock, valued at $4,384,373.88. This represents a 36.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,702 shares of company stock worth $20,965,306 over the last three months. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of several analyst reports. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. TD Cowen boosted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Scotiabank began coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald started coverage on ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective for the company. One equities research 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, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

NYSE:NOW opened at $1,007.79 on Monday. The firm has a market capitalization of $207.61 billion, a PE ratio of 147.55, a PEG ratio of 4.76 and a beta of 0.99. 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. The firm’s fifty day simple moving average is $1,080.32 and its 200 day simple moving average is $965.20.

ServiceNow (NYSE:NOW) last posted 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 return on equity of 17.11% and a net margin of 12.97%. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

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.