ServiceNow, Inc. (NYSE:NOW) Position Boosted by Davidson Capital Management Inc.

Davidson Capital Management Inc. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,863 shares of the information technology services provider’s stock after purchasing an additional 120 shares during the period. ServiceNow comprises 1.1% of Davidson Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Davidson Capital Management Inc.’s holdings in ServiceNow were worth $4,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avidian Wealth Enterprises LLC raised its stake in ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after purchasing an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 10 shares during the last quarter. Catalyst Financial Partners LLC increased its holdings in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 11 shares during the period. Institute for Wealth Management LLC. raised its position in shares of ServiceNow by 0.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after buying an additional 11 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 12 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

NOW opened at $1,008.63 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company’s 50 day simple moving average is $1,079.78 and its 200-day simple moving average is $968.21. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The stock has a market capitalization of $207.78 billion, a P/E ratio of 147.68, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99.

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, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has initiated a stock buyback program 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. Guggenheim restated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. TD Cowen boosted their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Sanford C. Bernstein upped their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Raymond James began coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target on the stock. Finally, KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling

In other news, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 81 shares of ServiceNow stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,809 shares of company stock worth $25,174,184 over the last three months. 0.25% of the stock is currently owned by company insiders.

About ServiceNow

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.