BlackDiamond Wealth Management LLC Purchases 41 Shares of ServiceNow, Inc. (NYSE:NOW)

BlackDiamond Wealth Management LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233 shares of the information technology services provider’s stock after acquiring an additional 41 shares during the period. BlackDiamond Wealth Management LLC’s holdings in ServiceNow were worth $247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Cassady Schiller Wealth Management LLC grew its stake in shares of ServiceNow by 44.0% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 11 shares during the period. Signaturefd LLC grew its position in ServiceNow by 4.6% during the 4th quarter. Signaturefd LLC now owns 4,133 shares of the information technology services provider’s stock worth $4,381,000 after acquiring an additional 183 shares during the last quarter. Parallel Advisors LLC grew its position in ServiceNow by 7.6% during the 4th 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 grew its position in ServiceNow by 14.0% during the 4th quarter. SlateStone Wealth LLC now owns 407 shares of the information technology services provider’s stock worth $431,000 after acquiring an additional 50 shares during the last quarter. Finally, Signature Wealth Management Group grew its position in ServiceNow by 2.3% during the 4th quarter. Signature Wealth Management Group now owns 1,804 shares of the information technology services provider’s stock worth $1,913,000 after acquiring an additional 40 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jacqueline P. Canney sold 292 shares of the firm’s stock in a transaction dated 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 directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Redburn Atlantic assumed coverage on ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. The Goldman Sachs Group upped their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Piper Sandler upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,108.03.

ServiceNow Price Performance

NOW stock opened at $843.03 on Tuesday. The stock has a 50-day moving average price of $988.28 and a two-hundred day moving average price of $985.78. The stock has a market cap of $173.66 billion, a PE ratio of 123.43, a price-to-earnings-growth 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. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors 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 believes its stock is undervalued.

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.