Americana Partners LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Americana Partners LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,145 shares of the information technology services provider’s stock after acquiring an additional 11 shares during the period. Americana Partners LLC’s holdings in ServiceNow were worth $11,815,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Polymer Capital Management HK LTD grew its stake in ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after acquiring an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in ServiceNow during the fourth quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. grew its stake in ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after acquiring an additional 1,105 shares in the last quarter. Avidian Wealth Enterprises LLC grew its stake in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry Quinlan sold 415 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $1,010.46, for a total transaction of $419,340.90. Following the sale, the director now directly owns 1,322 shares in the company, valued at $1,335,828.12. This trade represents a 23.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,082 shares of company stock valued at $23,401,482 in the last three months. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOW. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Oppenheimer lifted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. TD Cowen lifted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Citigroup dropped their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Piper Sandler lifted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Stock Down 0.4 %

Shares of ServiceNow stock opened at $985.67 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 company’s fifty day simple moving average is $1,070.53 and its two-hundred day simple moving average is $972.21. The company has a market cap of $203.05 billion, a P/E ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

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

ServiceNow announced that its Board of Directors has approved a stock buyback plan 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.