Rational Advisors LLC Acquires Shares of 1,900 ServiceNow, Inc. (NYSE:NOW)

Rational Advisors LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,900 shares of the information technology services provider’s stock, valued at approximately $2,014,000.

Other hedge funds have also modified their holdings of the company. Creative Planning raised its holdings in shares of ServiceNow by 8.1% in the third quarter. Creative Planning now owns 55,887 shares of the information technology services provider’s stock valued at $49,985,000 after buying an additional 4,170 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in ServiceNow by 12.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 8,646 shares of the information technology services provider’s stock valued at $7,733,000 after acquiring an additional 938 shares during the last quarter. Capital Investment Advisors LLC lifted its position in ServiceNow by 15.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 2,717 shares of the information technology services provider’s stock worth $2,430,000 after acquiring an additional 359 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of ServiceNow by 0.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 52,343 shares of the information technology services provider’s stock valued at $46,815,000 after purchasing an additional 139 shares during the last quarter. Finally, Everett Harris & Co. CA acquired a new position in shares of ServiceNow in the third quarter valued at approximately $215,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOW. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Needham & Company LLC lifted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Guggenheim reaffirmed a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a report on Wednesday, January 22nd. Finally, Citigroup cut their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Trading Down 0.4 %

Shares of NOW stock opened at $985.67 on Monday. The company has a market capitalization of $203.05 billion, a price-to-earnings ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $1,070.53 and a 200 day moving average price of $972.21. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted 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 net margin of 12.97% and a return on equity of 17.11%. Research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared 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 outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was 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 in the company, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,082 shares of company stock worth $23,401,482. Insiders own 0.25% of the company’s stock.

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.