Kestra Investment Management LLC Takes $181,000 Position in ServiceNow, Inc. (NYSE:NOW)

Kestra Investment Management LLC acquired a new stake 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 & Exchange Commission. The institutional investor acquired 171 shares of the information technology services provider’s stock, valued at approximately $181,000.

A number of other hedge funds have also recently bought and sold shares of NOW. Polymer Capital Management HK LTD lifted its stake in shares of ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow in the fourth quarter valued at $48,802,000. Dock Street Asset Management Inc. lifted its position in ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after buying an additional 1,105 shares during the period. Avidian Wealth Enterprises LLC lifted its position in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after buying an additional 138 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after buying an additional 765 shares during 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 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,806 shares of company stock worth $16,065,122. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 1.9 %

Shares of NYSE NOW opened at $968.19 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock’s 50-day simple moving average is $1,058.36 and its 200-day simple moving average is $976.01. The firm has a market cap of $199.45 billion, a price-to-earnings ratio of 141.76, a PEG ratio of 4.64 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts anticipate 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 buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on NOW shares. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Jefferies Financial Group dropped their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Mizuho lifted their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Stifel Nicolaus upped their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Citigroup cut their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price 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.