Kingsview Wealth Management LLC Purchases 127 Shares of ServiceNow, Inc. (NYSE:NOW)

Kingsview Wealth Management LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,765 shares of the information technology services provider’s stock after purchasing an additional 127 shares during the quarter. Kingsview Wealth Management LLC’s holdings in ServiceNow were worth $2,931,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC lifted its position in shares of ServiceNow by 10.2% in the fourth quarter. Apollon Wealth Management LLC now owns 3,123 shares of the information technology services provider’s stock worth $3,311,000 after purchasing an additional 288 shares in the last quarter. Almanack Investment Partners LLC. bought a new stake in ServiceNow during the 4th quarter worth about $216,000. MWA Asset Management boosted its stake in shares of ServiceNow by 5.8% during the 4th quarter. MWA Asset Management now owns 1,484 shares of the information technology services provider’s stock worth $1,573,000 after buying an additional 82 shares during the last quarter. Vest Financial LLC grew its holdings in shares of ServiceNow by 22.1% in the 4th quarter. Vest Financial LLC now owns 1,214 shares of the information technology services provider’s stock valued at $1,287,000 after acquiring an additional 220 shares in the last quarter. Finally, Conning Inc. increased its position in shares of ServiceNow by 15.7% in the fourth quarter. Conning Inc. now owns 1,239 shares of the information technology services provider’s stock valued at $1,313,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 1.5 %

Shares of NYSE NOW opened at $1,007.79 on Monday. The stock has a market cap of $207.61 billion, a P/E ratio of 147.55, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The firm has a 50 day moving average price of $1,080.32 and a two-hundred day moving average price of $965.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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%. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at ServiceNow

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

Analysts Set New Price Targets

Several brokerages recently commented on NOW. Sanford C. Bernstein increased their price target 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 raised their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Barclays upped their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC lifted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Truist Financial lifted their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.