Vista Cima Wealth Management LLC Buys New Stake in ServiceNow, Inc. (NYSE:NOW)

Vista Cima Wealth Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 676 shares of the information technology services provider's stock, valued at approximately $717,000. ServiceNow accounts for approximately 0.7% of Vista Cima Wealth Management LLC's portfolio, making the stock its 28th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after buying an additional 12,533 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in ServiceNow in the fourth quarter worth about $48,802,000. Dock Street Asset Management Inc. grew its holdings in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock worth $35,147,000 after purchasing an additional 1,105 shares during the period. Rheos Capital Works Inc. purchased a new stake in ServiceNow in the fourth quarter worth about $10,071,000. Finally, FMR LLC grew its holdings in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NYSE:NOW traded down $5.76 during trading hours on Wednesday, hitting $1,016.08. 1,258,790 shares of the stock traded hands, compared to its average volume of 1,525,797. The company has a market cap of $210.33 billion, a price-to-earnings ratio of 148.77, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a 50 day moving average price of $871.37 and a 200 day moving average price of $974.45. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

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

ServiceNow announced that its Board of Directors has initiated a share buyback program 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent research reports. Evercore ISI upped their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Robert W. Baird upped their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Erste Group Bank upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Bank of America dropped their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Transactions at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the 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. This represents a 44.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,061 shares of company stock valued at $9,515,766 over the last three months. Corporate insiders own 0.38% 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.