Darden Wealth Group Inc Has $2.06 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Darden Wealth Group Inc boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 91.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,940 shares of the information technology services provider's stock after purchasing an additional 925 shares during the period. ServiceNow makes up 1.4% of Darden Wealth Group Inc's holdings, making the stock its 14th biggest holding. Darden Wealth Group Inc's holdings in ServiceNow were worth $2,057,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. World Investment Advisors LLC increased its stake in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Norges Bank acquired a new position in shares of ServiceNow in the fourth quarter worth $2,603,360,000. Proficio Capital Partners LLC raised its stake in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after acquiring an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in ServiceNow during the 4th quarter worth $682,468,000. Finally, Raymond James Financial Inc. acquired a new stake in ServiceNow in the 4th quarter valued at about $393,868,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 0.0 %

NYSE NOW traded down $0.03 during mid-day trading on Wednesday, reaching $727.58. 639,403 shares of the company's stock traded hands, compared to its average volume of 1,442,653. The company has a fifty day simple moving average of $892.36 and a 200-day simple moving average of $976.70. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a market cap of $149.88 billion, a price-to-earnings ratio of 106.39, a P/E/G ratio of 4.51 and a beta of 1.08. 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 (NYSE:NOW - Get Free Report) last released its quarterly earnings results 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%. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a stock repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In related news, 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 transaction of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last quarter. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NOW shares. Truist Financial lowered their price objective on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. upped their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $1,275.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,079.10.

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.