200 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Spinnaker Trust

Spinnaker Trust bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 200 shares of the information technology services provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in ServiceNow by 2.6% during the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares in the last quarter. FMR LLC raised its holdings in ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. World Investment Advisors LLC raised its holdings in ServiceNow by 499,668.1% during the third 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 grew its position in ServiceNow by 1.9% in the third 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 last quarter. Finally, Wellington Management Group LLP grew its position in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,077,066.58. The trade was a 3.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,257 shares of company stock valued at $23,579,376 in the last quarter. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.4 %

NOW stock opened at $985.67 on Friday. 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 company has a fifty day simple moving average of $1,070.53 and a 200 day simple moving average of $971.00. The firm has a market cap of $203.05 billion, a PE ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Raymond James initiated coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Piper Sandler lifted their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One investment 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.