ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Focus Partners Wealth

Focus Partners Wealth increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 139.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,127 shares of the information technology services provider's stock after purchasing an additional 72,860 shares during the quarter. Focus Partners Wealth owned 0.06% of ServiceNow worth $135,358,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hudson Valley Investment Advisors Inc. ADV purchased a new position in ServiceNow during the 4th quarter valued at about $223,000. Fortitude Family Office LLC boosted its position in shares of ServiceNow by 18.8% in the fourth quarter. Fortitude Family Office LLC now owns 95 shares of the information technology services provider's stock worth $101,000 after acquiring an additional 15 shares during the last quarter. ORG Partners LLC boosted its position in shares of ServiceNow by 15.2% in the fourth quarter. ORG Partners LLC now owns 159 shares of the information technology services provider's stock worth $169,000 after acquiring an additional 21 shares during the last quarter. Hilltop National Bank boosted its position in shares of ServiceNow by 22.8% in the fourth quarter. Hilltop National Bank now owns 420 shares of the information technology services provider's stock worth $445,000 after acquiring an additional 78 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC acquired a new stake in shares of ServiceNow in the fourth quarter worth approximately $200,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 0.5%

NOW stock traded down $5.43 during mid-day trading on Wednesday, hitting $1,031.29. 703,511 shares of the company were exchanged, compared to its average volume of 1,885,602. The company has a market capitalization of $213.48 billion, a PE ratio of 150.99, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a fifty day simple moving average of $850.27 and a 200 day simple moving average of $971.49.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share 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%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $3.41 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has initiated a share repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Mizuho decreased their target price on shares of 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. Oppenheimer reissued an "outperform" rating and issued a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Canaccord Genuity Group reduced their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 384 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total transaction of $378,869.76. Following the completion of the sale, the chief executive officer now owns 6,614 shares in the company, valued at $6,525,636.96. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 257 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $253,145.00. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,981,595. This represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,844 shares of company stock worth $14,204,938 over the last 90 days. 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.