ServiceNow, Inc. (NYSE:NOW) Shares Bought by Modera Wealth Management LLC

Modera Wealth Management LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 22.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 335 shares of the information technology services provider’s stock after purchasing an additional 62 shares during the quarter. Modera Wealth Management LLC’s holdings in ServiceNow were worth $355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the 3rd quarter worth $30,000. FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the period. Noble Wealth Management PBC purchased a new position in shares of ServiceNow during the 4th quarter worth $34,000. Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the 4th quarter worth $37,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of ServiceNow during the 4th quarter worth $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $906.15 on Wednesday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a market cap of $186.67 billion, a PE ratio of 132.67, a P/E/G ratio of 4.51 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. The business has a 50-day simple moving average of $1,030.51 and a 200-day simple moving average of $985.06.

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, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Needham & Company LLC boosted their price objective 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. Raymond James initiated coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. TD Cowen boosted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Jefferies Financial Group reduced their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,129.72.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last three months. 0.25% of the stock is owned by corporate insiders.

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.