Three Seasons Wealth LLC Takes $2.21 Million Position in ServiceNow, Inc. (NYSE:NOW)

Three Seasons Wealth LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,087 shares of the information technology services provider's stock, valued at approximately $2,212,000. ServiceNow comprises approximately 1.1% of Three Seasons Wealth LLC's investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after buying an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. FMR LLC increased its position in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Geode Capital Management LLC raised its stake in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, Norges Bank purchased a new position in ServiceNow in the 4th quarter valued at about $2,603,360,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction dated 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 owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,250 shares of company stock valued at $19,853,273 in the last quarter. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NOW shares. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $975.00 to $1,060.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Piper Sandler dropped their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. StockNews.com lowered ServiceNow from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Truist Financial dropped their price target on shares of ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Finally, Robert W. Baird boosted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,032.94.

ServiceNow Stock Up 0.4 %

Shares of ServiceNow stock traded up $3.37 on Tuesday, hitting $940.78. The company had a trading volume of 620,591 shares, compared to its average volume of 1,503,354. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month 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 has a 50-day moving average of $837.70 and a 200-day moving average of $967.86. The firm has a market capitalization of $194.74 billion, a P/E ratio of 137.65, a P/E/G ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has approved a stock 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 shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

ServiceNow Company 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.