RD Lewis Holdings Inc. Invests $832,000 in ServiceNow, Inc. (NYSE:NOW)

RD Lewis Holdings Inc. acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 825 shares of the information technology services provider’s stock, valued at approximately $832,000.

A number of other hedge funds have also added to or reduced their stakes in NOW. World Investment Advisors LLC increased its stake in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares during the last quarter. Bank of Montreal Can increased its stake in ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after acquiring an additional 935,848 shares during the last quarter. Proficio Capital Partners LLC increased its stake in ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after acquiring an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in ServiceNow in the fourth quarter valued at approximately $682,468,000. Finally, Wellington Management Group LLP increased its stake 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 valued at $2,834,797,000 after acquiring an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

NOW stock opened at $843.03 on Tuesday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $173.66 billion, a price-to-earnings ratio of 123.43, a PEG ratio of 4.51 and a beta of 1.03. The company’s fifty day simple moving average is $988.28 and its 200 day simple moving average is $985.78.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has approved a stock repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Guggenheim restated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. The Goldman Sachs Group raised 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 report on Friday, January 10th. Piper Sandler raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC raised 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 report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,108.03.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,351 shares of company stock valued at $20,050,076. Corporate insiders own 0.25% of the company’s stock.

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.