Minot DeBlois Advisors LLC Buys New Position in ServiceNow, Inc. (NYSE:NOW)

Minot DeBlois Advisors LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 462 shares of the information technology services provider's stock, valued at approximately $490,000.

A number of other large investors have also recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of ServiceNow in the fourth quarter worth $27,000. Atala Financial Inc purchased a new stake in ServiceNow in the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the 4th quarter worth $32,000. FPC Investment Advisory Inc. raised its holdings in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the fourth quarter valued at about $34,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.8%

NOW traded up $8.52 on Thursday, reaching $1,035.34. 986,967 shares of the company traded hands, compared to its average volume of 1,517,532. The company has a market cap of $214.32 billion, a P/E ratio of 151.59, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. 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, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a fifty day simple moving average of $853.85 and a two-hundred day simple moving average of $971.90.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.41 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has initiated a stock 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NOW shares. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Robert W. Baird upped their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Finally, Piper Sandler dropped their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. 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 stock. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Activity

In other ServiceNow news, insider Paul John Smith sold 1,184 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $980.08, for a total transaction of $1,160,414.72. Following the transaction, the insider now owns 4,204 shares of the company's stock, valued at approximately $4,120,256.32. This trade represents a 21.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,023 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,280,016. The trade was a 19.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,056 shares of company stock worth $14,421,814. Company insiders own 0.38% of the company's stock.

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.