BostonPremier Wealth LLC Purchases New Shares in ServiceNow, Inc. (NYSE:NOW)

BostonPremier Wealth LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 411 shares of the information technology services provider’s stock, valued at approximately $436,000.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its holdings in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after buying an additional 226,023 shares during the period. FMR LLC lifted its stake in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC boosted its position in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP increased its holdings in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

NYSE:NOW opened at $1,021.52 on Tuesday. The stock has a market capitalization of $210.43 billion, a PE ratio of 149.56, a P/E/G ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The firm has a fifty day simple moving average of $1,080.32 and a 200 day simple moving average of $966.85. 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 released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has initiated a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in 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.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,702 shares of company stock worth $20,965,306 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of several analyst reports. Canaccord Genuity Group boosted their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Sanford C. Bernstein upped their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Mizuho lifted their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Citigroup reduced their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.