CSM Advisors LLC Purchases Shares of 211 ServiceNow, Inc. (NYSE:NOW)

CSM Advisors LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 211 shares of the information technology services provider’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of ServiceNow during the third quarter worth $9,833,000. Anchor Investment Management LLC lifted its stake in ServiceNow by 6.1% during the third quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider’s stock valued at $1,220,000 after buying an additional 78 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in shares of ServiceNow in the third quarter worth approximately $202,000. World Investment Advisors LLC lifted its position in shares of ServiceNow by 585.8% in the 3rd quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider’s stock valued at $5,857,000 after acquiring an additional 5,594 shares in the last quarter. Finally, Sfmg LLC acquired a new stake in ServiceNow during the 3rd quarter valued at $226,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,435,554.47. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Up 1.4 %

NYSE NOW opened at $766.53 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $158.67 billion, a PE ratio of 112.23, a PEG ratio of 4.51 and a beta of 1.08. The firm has a 50-day simple moving average of $843.99 and a 200 day simple moving average of $968.16.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on NOW. Needham & Company LLC increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group dropped their price objective on shares of ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lowered their price target on shares of ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Morgan Stanley dropped their target price on ServiceNow from $960.00 to $881.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.43.

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.