Tcfg Wealth Management LLC Invests $230,000 in ServiceNow, Inc. (NYSE:NOW)

Tcfg Wealth Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 217 shares of the information technology services provider’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the third quarter worth $30,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $37,000. Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $37,000. DT Investment Partners LLC lifted its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Finally, Avion Wealth lifted its stake in shares of ServiceNow by 44.8% during the fourth quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock worth $44,000 after buying an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NOW opened at $985.67 on Monday. The firm has a market capitalization of $203.05 billion, a PE ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm’s 50-day moving average price is $1,070.53 and its 200 day moving average price is $972.21. 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 (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, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has authorized a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding 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 often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Robert W. Baird decreased their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Barclays boosted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Mizuho boosted their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Citigroup decreased their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 313 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 $333,219.80. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Larry Quinlan sold 415 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $1,010.46, for a total transaction of $419,340.90. Following the completion of the transaction, the director now owns 1,322 shares in the company, valued at $1,335,828.12. The trade was a 23.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,082 shares of company stock worth $23,401,482. 0.25% of the stock is owned by insiders.

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.