Arcadia Investment Management Corp MI Acquires 277 Shares of ServiceNow, Inc. (NYSE:NOW)

Arcadia Investment Management Corp MI lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,600 shares of the information technology services provider’s stock after acquiring an additional 277 shares during the period. ServiceNow accounts for approximately 2.3% of Arcadia Investment Management Corp MI’s holdings, making the stock its 13th biggest holding. Arcadia Investment Management Corp MI’s holdings in ServiceNow were worth $14,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NOW. Foundations Investment Advisors LLC lifted its holdings in shares of ServiceNow by 19.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider’s stock valued at $558,000 after acquiring an additional 101 shares during the last quarter. Segment Wealth Management LLC lifted its holdings in shares of ServiceNow by 39.3% in the 3rd quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider’s stock valued at $634,000 after acquiring an additional 200 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in ServiceNow by 44.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,076 shares of the information technology services provider’s stock worth $963,000 after purchasing an additional 329 shares during the last quarter. Axecap Investments LLC bought a new stake in ServiceNow in the third quarter worth about $985,000. Finally, International Assets Investment Management LLC lifted its stake in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. Citigroup reduced their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. TD Cowen raised their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald started coverage on shares of ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective on the stock. Raymond James started coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective on the stock. Finally, Redburn Atlantic started coverage on shares of ServiceNow in a report on Wednesday. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 2,511 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the completion of the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,384,373.88. The trade was a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,806 shares of company stock worth $16,065,122. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 1.9 %

NYSE:NOW opened at $968.19 on Friday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The firm has a fifty day simple moving average of $1,058.36 and a 200-day simple moving average of $976.01. 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 has a market capitalization of $199.45 billion, a P/E ratio of 141.76, a PEG ratio of 4.60 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has initiated a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors 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.