Liberty Square Wealth Partners LLC Purchases Shares of 405 ServiceNow, Inc. (NYSE:NOW)

Liberty Square Wealth Partners LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 405 shares of the information technology services provider's stock, valued at approximately $400,000.

A number of other hedge funds also recently modified their holdings of NOW. Quarry LP acquired a new stake in shares of ServiceNow during the fourth quarter worth $27,000. Atala Financial Inc bought a new stake in ServiceNow during the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the 4th quarter worth about $32,000. Noble Wealth Management PBC bought a new position in shares of ServiceNow in the 4th quarter worth about $34,000. Finally, FPC Investment Advisory Inc. raised its position in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $23.33 during mid-day trading on Tuesday, hitting $1,027.70. 1,101,587 shares of the stock were exchanged, compared to its average volume of 1,526,928. The company has a market capitalization of $212.72 billion, a P/E ratio of 150.47, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a 50-day simple moving average of $884.98 and a 200 day simple moving average of $974.97.

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, topping the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.41 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Deborah Black sold 598 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the sale, the director now owns 428 shares of the company's stock, valued at approximately $402,418.44. This represents a 58.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at approximately $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,674 shares of company stock worth $2,510,213 over the last ninety days. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on NOW. Mizuho cut their target price on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Cantor Fitzgerald restated an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a report on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Barclays set a $1,085.00 target price on shares of ServiceNow in a research note on Wednesday, May 7th. Finally, Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and upped their price objective for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

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.