ServiceNow, Inc. (NYSE:NOW) Shares Bought by Heritage Investors Management Corp

Heritage Investors Management Corp raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.2% during the 4th quarter, Holdings Channel reports. The firm owned 23,266 shares of the information technology services provider’s stock after buying an additional 54 shares during the quarter. Heritage Investors Management Corp’s holdings in ServiceNow were worth $24,665,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of NOW. Truvestments Capital LLC purchased a new stake in ServiceNow in the third quarter valued at approximately $30,000. FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at $37,000. Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of ServiceNow in the fourth quarter worth $40,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,706 shares of company stock worth $17,644,106 in the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.1 %

NYSE NOW opened at $941.79 on Thursday. The business has a fifty day moving average price of $1,044.39 and a 200 day moving average price of $981.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $194.01 billion, a P/E ratio of 137.89, a P/E/G ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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 anticipate 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.

Analysts Set New Price Targets

A number of research firms recently issued reports on NOW. Needham & Company LLC boosted 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. Raymond James began coverage on ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective for the company. Piper Sandler raised their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Truist Financial lifted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Finally, KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target 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.