Crowley Wealth Management Inc. Acquires New Stake in ServiceNow, Inc. (NYSE:NOW)

Crowley Wealth Management Inc. bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 178 shares of the information technology services provider’s stock, valued at approximately $189,000.

Other large investors have also modified their holdings of the company. Polymer Capital Management HK LTD boosted its position in ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after acquiring an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in ServiceNow in the 4th quarter worth approximately $48,802,000. Dock Street Asset Management Inc. boosted its holdings in shares of ServiceNow by 3.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after purchasing an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $105,090,000. Finally, Rheos Capital Works Inc. acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $10,071,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 4,442 shares of the business’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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, 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 have sold 20,351 shares of company stock worth $20,050,076 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Up 0.5 %

Shares of NYSE:NOW opened at $827.92 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $971.31 and its two-hundred day moving average is $984.34. The company has a market cap of $170.55 billion, a PE ratio of 121.22, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its 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%. Equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a share repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOW. Guggenheim restated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. TD Cowen raised their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $1,275.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Wells Fargo & Company increased 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 note on Thursday, December 5th. Finally, Mizuho reduced their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,100.31.

ServiceNow 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.