Quantum Financial Planning Services Inc. Makes New $265,000 Investment in ServiceNow, Inc. (NYSE:NOW)

Quantum Financial Planning Services Inc. bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 250 shares of the information technology services provider’s stock, valued at approximately $265,000.

Other institutional investors also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth $30,000. DT Investment Partners LLC lifted its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Oakworth Capital Inc. grew its stake in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares in the last quarter. Synergy Asset Management LLC bought a new position in ServiceNow in the 4th quarter valued at about $50,000. Finally, Dunhill Financial LLC raised its position in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $1,011.67 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a fifty day moving average of $1,085.21 and a 200-day moving average of $952.30. The firm has a market capitalization of $208.40 billion, a P/E ratio of 148.12, a P/E/G ratio of 5.19 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($1.74). ServiceNow had a net margin of 12.97% and a return on equity of 17.56%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.98 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NOW. Piper Sandler increased their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Evercore ISI lifted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Oppenheimer increased their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Raymond James initiated coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.93.

Insider Buying and Selling

In other ServiceNow news, insider Kevin Thomas Mcbride sold 100 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the completion of the sale, the insider now owns 3,457 shares in the company, valued at approximately $3,539,864.29. The trade was a 2.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is owned by company insiders.

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.