Signature Wealth Management Group Buys 40 Shares of ServiceNow, Inc. (NYSE:NOW)

Signature Wealth Management Group boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,804 shares of the information technology services provider’s stock after purchasing an additional 40 shares during the quarter. Signature Wealth Management Group’s holdings in ServiceNow were worth $1,913,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Atala Financial Inc bought a new stake in shares of ServiceNow during the 4th quarter valued at about $28,000. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at about $30,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. boosted its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $34,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 4.2 %

Shares of NYSE:NOW opened at $845.75 on Friday. The company has a market cap of $174.22 billion, a P/E ratio of 123.83, a PEG ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock’s fifty day moving average price is $992.95 and its 200-day moving average price is $984.50.

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

ServiceNow announced that its Board of Directors has approved a share repurchase program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Robert W. Baird dropped their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Truist Financial boosted their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. TD Cowen lifted their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,114.24.

Insider Activity at ServiceNow

In other ServiceNow news, 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 value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by insiders.

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.