Weatherly Asset Management L. P. Acquires 240 Shares of ServiceNow, Inc. (NYSE:NOW)

Weatherly Asset Management L. P. grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,796 shares of the information technology services provider’s stock after purchasing an additional 240 shares during the quarter. ServiceNow comprises approximately 0.7% of Weatherly Asset Management L. P.’s portfolio, making the stock its 28th biggest holding. Weatherly Asset Management L. P.’s holdings in ServiceNow were worth $8,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Sovran Advisors LLC bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $673,000. Axecap Investments LLC boosted its position in shares of ServiceNow by 294.6% in the fourth quarter. Axecap Investments LLC now owns 4,345 shares of the information technology services provider’s stock valued at $4,606,000 after acquiring an additional 3,244 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $37,000. BostonPremier Wealth LLC purchased a new stake in ServiceNow in the fourth quarter valued at approximately $436,000. Finally, Summit Trail Advisors LLC raised its stake in ServiceNow by 18.9% in the fourth quarter. Summit Trail Advisors LLC now owns 2,646 shares of the information technology services provider’s stock valued at $2,806,000 after purchasing an additional 420 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the business’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 transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry Quinlan sold 415 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the completion of the transaction, the director now directly owns 1,737 shares of the company’s stock, valued at approximately $1,749,871.17. This trade represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,702 shares of company stock valued at $20,965,306 in the last quarter. 0.25% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,021.52 on Tuesday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market cap of $210.43 billion, a PE ratio of 149.56, a price-to-earnings-growth 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 company’s fifty day moving average price is $1,080.32 and its 200-day moving average price is $966.85.

ServiceNow (NYSE:NOW) last announced 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%. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Guggenheim reaffirmed a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein raised 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. Finally, Robert W. Baird decreased their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

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.