Cetera Investment Advisers Has $54.29 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Cetera Investment Advisers lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,214 shares of the information technology services provider's stock after acquiring an additional 508 shares during the quarter. Cetera Investment Advisers' holdings in ServiceNow were worth $54,293,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in shares of ServiceNow during the 4th quarter worth $27,000. Atala Financial Inc purchased a new position in ServiceNow during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the 4th quarter worth about $32,000. Noble Wealth Management PBC purchased a new position in ServiceNow in the fourth quarter valued at approximately $34,000. Finally, FPC Investment Advisory Inc. increased its holdings in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 336 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $341,896.80. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,408,026.60. This trade represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,150 shares of company stock worth $16,550,424 in the last quarter. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and increased their price target for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Evercore ISI boosted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Royal Bank of Canada boosted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Piper Sandler reduced their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,055.83.

ServiceNow Stock Performance

Shares of NOW stock traded up $6.64 during trading hours on Friday, reaching $981.13. 919,297 shares of the company's stock were exchanged, compared to its average volume of 1,516,226. The business has a fifty day moving average price of $844.85 and a 200-day moving average price of $970.48. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $203.09 billion, a P/E ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned $3.41 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are 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.