Sora Investors LLC Takes $9.09 Million Position in ServiceNow, Inc. (NYSE:NOW)

Sora Investors LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,577 shares of the information technology services provider's stock, valued at approximately $9,093,000.

Other hedge funds also recently modified their holdings of the company. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares during the period. Redhawk Wealth Advisors Inc. grew its position in shares of ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after buying an additional 10 shares during the period. Institute for Wealth Management LLC. increased 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 acquiring an additional 11 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after acquiring an additional 11 shares in the last quarter. Finally, Onefund LLC boosted its position in shares of ServiceNow by 2.0% during the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after purchasing an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the transaction, the general counsel now owns 4,332 shares of the company's stock, valued at approximately $4,431,636. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,872 shares of company stock valued at $13,261,400. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,035.34 on Friday. The stock's 50-day moving average is $858.93 and its two-hundred day moving average is $972.52. 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 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a market cap of $214.32 billion, a price-to-earnings ratio of 151.59, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the prior year, the business posted $3.41 earnings per share. ServiceNow's revenue was up 18.6% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Raymond James reduced their target price on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Canaccord Genuity Group dropped their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and issued a $1,050.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $1,048.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. One investment 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. Based on data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

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.

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