Castlekeep Investment Advisors LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,962 shares of the information technology services provider's stock, valued at approximately $17,982,000. ServiceNow makes up 2.9% of Castlekeep Investment Advisors LLC's investment portfolio, making the stock its 5th largest holding.
Other large investors have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC increased its position in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after acquiring an additional 9 shares during the period. Institute for Wealth Management LLC. grew its stake in ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after purchasing an additional 11 shares in the last quarter. TBH Global Asset Management LLC increased its holdings in ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after purchasing an additional 11 shares during the period. Onefund LLC raised its position in ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after purchasing an additional 11 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC boosted its stake in shares of ServiceNow by 44.0% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after buying an additional 11 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Trading Down 1.0%
NYSE NOW opened at $1,005.53 on Friday. The firm's fifty day moving average is $881.74 and its two-hundred day moving average is $975.40. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. 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 firm has a market cap of $208.14 billion, a PE ratio of 147.22, a P/E/G ratio of 4.51 and a beta of 0.97.
ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.
ServiceNow announced that its board has approved a share repurchase program 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.
Insider Activity
In other ServiceNow news, General Counsel Russell S. Elmer sold 191 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $188,135.00. Following the completion of the sale, the general counsel now owns 4,332 shares of the company's stock, valued at approximately $4,267,020. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the company's 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 $67,518.00. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,096,621. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,619 shares of company stock valued at $5,230,568. Company insiders own 0.38% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Raymond James lowered their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group restated a "buy" rating and issued a $1,025.00 price target (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.
Get Our Latest Stock Report on ServiceNow
ServiceNow Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider ServiceNow, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ServiceNow wasn't on the list.
While ServiceNow currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
