Global Wealth Management Investment Advisory Inc. Invests $207,000 in ServiceNow, Inc. (NYSE:NOW)

Global Wealth Management Investment Advisory Inc. acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 195 shares of the information technology services provider’s stock, valued at approximately $207,000.

Other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC lifted its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $37,000. Oakworth Capital Inc. lifted its holdings in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC raised its holdings in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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. This represents a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,702 shares of company stock worth $20,965,306. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,007.79 on Monday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company’s 50-day moving average is $1,080.32 and its 200 day moving average is $965.20. The company has a market capitalization of $207.61 billion, a price-to-earnings ratio of 147.55, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. 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 (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock buyback program 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Scotiabank assumed coverage on shares of ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Mizuho upped 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. The Goldman Sachs Group upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Guggenheim reiterated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. Finally, Oppenheimer upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

About ServiceNow

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.