Motiv8 Investments LLC Has $1.18 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Motiv8 Investments LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,108 shares of the information technology services provider’s stock after purchasing an additional 59 shares during the quarter. Motiv8 Investments LLC’s holdings in ServiceNow were worth $1,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Avidian Wealth Enterprises LLC boosted its stake in ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after acquiring an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its position in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 10 shares during the last quarter. Catalyst Financial Partners LLC raised its holdings in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after buying an additional 11 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in 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 worth $2,779,000 after acquiring an additional 11 shares during the last quarter. Finally, TBH Global Asset Management LLC raised its stake in shares of ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 2.1 %

Shares of NYSE NOW opened at $941.79 on Thursday. The business has a fifty day moving average price of $1,044.39 and a 200 day moving average price of $981.23. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year 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 market capitalization of $194.01 billion, a P/E ratio of 137.89, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99.

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

ServiceNow announced that its Board of Directors has authorized a share 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the transaction, the director now directly owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,706 shares of company stock valued at $17,644,106. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NOW. Redburn Atlantic initiated coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Canaccord Genuity Group boosted their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, TD Cowen lifted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

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.