ServiceNow, Inc. (NYSE:NOW) Shares Bought by Waterloo Capital L.P.

Waterloo Capital L.P. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,354 shares of the information technology services provider’s stock after purchasing an additional 60 shares during the quarter. Waterloo Capital L.P.’s holdings in ServiceNow were worth $2,496,000 at the end of the most recent reporting period.

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

ServiceNow Trading Down 6.9 %

NYSE:NOW opened at $720.69 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a market cap of $148.46 billion, a P/E ratio of 105.52, a P/E/G ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50-day simple moving average of $917.80 and a 200-day simple moving average of $980.64.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has authorized 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Redburn Atlantic initiated coverage on shares of ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. Needham & Company LLC lifted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Scotiabank reduced their price objective on shares of 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,086.00.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, 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. In the last quarter, insiders sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

ServiceNow 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.