Signaturefd LLC Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Signaturefd LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,133 shares of the information technology services provider’s stock after purchasing an additional 183 shares during the period. Signaturefd LLC’s holdings in ServiceNow were worth $4,381,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Parallel Advisors LLC boosted its position in shares of ServiceNow by 7.6% in the fourth quarter. Parallel Advisors LLC now owns 5,470 shares of the information technology services provider’s stock worth $5,799,000 after acquiring an additional 388 shares during the last quarter. SlateStone Wealth LLC raised its stake in ServiceNow by 14.0% during the fourth quarter. SlateStone Wealth LLC now owns 407 shares of the information technology services provider’s stock worth $431,000 after purchasing an additional 50 shares during the period. Signature Wealth Management Group boosted its holdings in shares of ServiceNow by 2.3% in the 4th quarter. Signature Wealth Management Group now owns 1,804 shares of the information technology services provider’s stock valued at $1,913,000 after purchasing an additional 40 shares during the last quarter. GWN Securities Inc. acquired a new stake in ServiceNow during the fourth quarter worth about $89,000. Finally, Altus Wealth Group LLC lifted its position in ServiceNow by 0.6% during the fourth quarter. Altus Wealth Group LLC now owns 2,844 shares of the information technology services provider’s stock valued at $3,015,000 after buying an additional 16 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $845.75 on Monday. The firm has a market capitalization of $174.22 billion, a PE ratio of 123.83, a PEG ratio of 4.51 and a beta of 1.03. 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 business’s 50 day moving average is $992.95 and its 200-day moving average is $985.70. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last released 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%. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has authorized a share buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s 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 sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock worth $20,050,076 over the last three months. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NOW shares. Truist Financial boosted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Mizuho lowered their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. Guggenheim reaffirmed a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,114.24.

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.