LifeWealth Investments LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

LifeWealth Investments LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 283 shares of the information technology services provider's stock, valued at approximately $300,000.

Several other hedge funds and other institutional investors have also modified their holdings of NOW. Avidian Wealth Enterprises LLC boosted its stake in 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 buying an additional 9 shares in the last quarter. Institute for Wealth Management LLC. boosted its stake in shares of ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after purchasing an additional 11 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in shares of ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after purchasing an additional 11 shares in the last quarter. Onefund LLC boosted its stake in shares of 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 purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NOW stock traded up $23.33 during trading hours on Tuesday, hitting $1,027.70. The stock had a trading volume of 1,101,587 shares, compared to its average volume of 1,526,928. 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 current ratio of 1.10 and a quick ratio of 1.10. The stock's 50-day moving average price is $884.98 and its two-hundred day moving average price is $974.97. The stock has a market capitalization of $212.72 billion, a price-to-earnings ratio of 150.47, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its 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. 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 period in the previous year, the firm posted $3.41 earnings per share. The business's revenue was up 18.6% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has authorized a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Oppenheimer restated an "outperform" rating and issued a $1,100.00 target price (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Redburn Atlantic started coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and upped their price target for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Bank of America dropped their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,062.50.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 292 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the transaction, the chief financial officer now owns 11,198 shares of the company's stock, valued at approximately $11,030,030. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,431,636. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,674 shares of company stock valued at $2,510,213 over the last ninety days. 0.38% of the stock is owned by insiders.

About ServiceNow

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.