Evoke Wealth LLC Buys 38 Shares of ServiceNow, Inc. (NYSE:NOW)

Evoke Wealth LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,459 shares of the information technology services provider’s stock after buying an additional 38 shares during the quarter. Evoke Wealth LLC’s holdings in ServiceNow were worth $2,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. United Bank purchased a new stake in ServiceNow in the 3rd quarter worth approximately $480,000. Harbour Investments Inc. lifted its holdings in ServiceNow by 14.0% in the 3rd quarter. Harbour Investments Inc. now owns 269 shares of the information technology services provider’s stock worth $241,000 after buying an additional 33 shares during the period. Accredited Investors Inc. purchased a new position in shares of ServiceNow in the 3rd quarter valued at approximately $234,000. Atlanta Consulting Group Advisors LLC purchased a new position in shares of ServiceNow in the 3rd quarter valued at approximately $384,000. Finally, Claro Advisors LLC lifted its stake in shares of ServiceNow by 31.8% in the 3rd quarter. Claro Advisors LLC now owns 1,195 shares of the information technology services provider’s stock valued at $1,069,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NOW. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Guggenheim reissued a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Truist Financial lifted their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, UBS Group reduced their target price on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,108.03.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the 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 sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % 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 worth $20,050,076. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

Shares of NOW stock opened at $843.03 on Tuesday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock’s 50-day moving average is $988.28 and its 200 day moving average is $985.78. The company has a market cap of $173.66 billion, a P/E ratio of 123.43, a PEG ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a stock repurchase program 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.