Concord Asset Management LLC VA Purchases 87 Shares of ServiceNow, Inc. (NYSE:NOW)

Concord Asset Management LLC VA lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,458 shares of the information technology services provider’s stock after buying an additional 87 shares during the quarter. Concord Asset Management LLC VA’s holdings in ServiceNow were worth $1,546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Chicago Partners Investment Group LLC boosted its stake in shares of ServiceNow by 3.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 749 shares of the information technology services provider’s stock valued at $786,000 after purchasing an additional 23 shares during the period. Waldron Private Wealth LLC grew its stake in ServiceNow by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 3,843 shares of the information technology services provider’s stock worth $4,074,000 after acquiring an additional 23 shares in the last quarter. Custom Index Systems LLC increased its position in shares of ServiceNow by 2.2% during the fourth quarter. Custom Index Systems LLC now owns 599 shares of the information technology services provider’s stock worth $635,000 after acquiring an additional 13 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Finally, Austin Private Wealth LLC grew its stake in ServiceNow by 59.7% in the fourth quarter. Austin Private Wealth LLC now owns 602 shares of the information technology services provider’s stock worth $638,000 after purchasing an additional 225 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday. Wells Fargo & Company increased their price objective 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. Sanford C. Bernstein increased their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets upped their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.93.

ServiceNow Trading Up 0.7 %

Shares of ServiceNow stock opened at $1,020.17 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a market capitalization of $210.16 billion, a PE ratio of 149.37, a P/E/G ratio of 5.19 and a beta of 0.99. The firm’s 50-day moving average price is $1,083.66 and its 200 day moving average price is $954.46.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.56% and a net margin of 12.97%. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.98 EPS for the current fiscal year.

ServiceNow announced that its board has approved a share buyback 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.