Everhart Financial Group Inc. Buys 96 Shares of ServiceNow, Inc. (NYSE:NOW)

Everhart Financial Group Inc. grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,880 shares of the information technology services provider’s stock after purchasing an additional 96 shares during the period. Everhart Financial Group Inc.’s holdings in ServiceNow were worth $1,993,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new position in shares of ServiceNow in the third quarter valued at approximately $30,000. Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $37,000. Stonebridge Financial Group LLC bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $37,000. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. Finally, Avion Wealth grew its holdings in shares of ServiceNow by 44.8% in the fourth quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 13 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 0.4 %

Shares of NOW opened at $985.67 on Friday. The firm has a market cap of $203.05 billion, a P/E ratio of 144.31, a P/E/G ratio of 4.76 and a beta of 0.99. The stock has a 50 day simple moving average of $1,070.53 and a two-hundred day simple moving average of $971.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. On average, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $95,554.76. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,077,066.58. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 81 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the completion of the sale, the general counsel now owns 6,843 shares of the company’s stock, valued at $6,956,183.22. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,257 shares of company stock valued at $23,579,376 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on NOW. Citigroup reduced their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Evercore ISI increased their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial increased their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Stifel Nicolaus increased their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.