195 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, Holdings Channel reports. The fund bought 195 shares of the information technology services provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC increased its holdings in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in ServiceNow in the 4th quarter worth approximately $37,000. Oakworth Capital Inc. increased its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC grew its holdings in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,702 shares of company stock worth $20,965,306 over the last three months. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective for the company. Evercore ISI increased their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Citigroup cut their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Oppenheimer increased their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Mizuho increased their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Stock Down 1.5 %

NYSE:NOW opened at $1,007.79 on Monday. 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 stock has a fifty day simple moving average of $1,080.32 and a 200-day simple moving average of $965.20. The company has a market cap of $207.61 billion, a price-to-earnings ratio of 147.55, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

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

ServiceNow declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is 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.