ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Quent Capital LLC

Quent Capital LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 987 shares of the information technology services provider’s stock after acquiring an additional 28 shares during the period. Quent Capital LLC’s holdings in ServiceNow were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NOW. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at about $30,000. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $37,000. 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 buying an additional 17 shares in the last quarter. Finally, Oakworth Capital Inc. boosted 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 during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. Sanford C. Bernstein raised their target price on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Raymond James assumed coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Robert W. Baird cut their price target on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Finally, Oppenheimer upped their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Stock Down 1.3 %

ServiceNow stock opened at $1,008.63 on Wednesday. The firm has a market capitalization of $207.78 billion, a P/E ratio of 147.68, a P/E/G ratio of 4.76 and a beta of 0.99. 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 stock’s fifty day simple moving average is $1,079.78 and its 200-day simple moving average is $968.21.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has approved a share buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 81 shares of ServiceNow stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the sale, the general counsel now owns 6,843 shares in the company, valued at $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,809 shares of company stock valued at $25,174,184. Insiders own 0.25% 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.