Sherbrooke Park Advisers LLC Acquires Shares of 431 ServiceNow, Inc. (NYSE:NOW)

Sherbrooke Park Advisers LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 431 shares of the information technology services provider's stock, valued at approximately $457,000.

Other large investors have also bought and sold shares of the company. Quarry LP bought a new stake in ServiceNow during the 4th quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. boosted 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 purchasing an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $34,000. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 384 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total value of $378,869.76. Following the completion of the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at approximately $6,525,636.96. This represents a 5.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,872 shares of company stock valued at $13,261,400. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. William Blair reissued an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Bank of America dropped their price target on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. TD Securities reissued a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and boosted their price target for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Trading Up 0.5%

NYSE:NOW opened at $1,040.22 on Friday. 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 firm has a market capitalization of $215.33 billion, a price-to-earnings ratio of 152.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The business has a fifty day moving average price of $863.52 and a 200-day moving average price of $973.27.

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

ServiceNow declared that its Board of Directors has authorized a stock repurchase 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

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.

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