Nicolet Advisory Services LLC Raises Position in ServiceNow, Inc. (NYSE:NOW)

Nicolet Advisory Services LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,109 shares of the information technology services provider’s stock after acquiring an additional 95 shares during the period. Nicolet Advisory Services LLC’s holdings in ServiceNow were worth $1,136,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Atala Financial Inc purchased a new position in shares of ServiceNow during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow in the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. increased its holdings in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of ServiceNow during the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter worth $37,000. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. Redburn Atlantic assumed coverage on ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Scotiabank decreased their price objective on ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $1,275.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,087.21.

ServiceNow Stock Up 1.6 %

Shares of ServiceNow stock opened at $824.64 on Thursday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a market cap of $169.88 billion, a price-to-earnings ratio of 120.74, a PEG ratio of 4.51 and a beta of 1.03. The company has a 50-day moving average of $933.06 and a 200 day moving average of $982.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its earnings results 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 net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction dated 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 approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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.