J.W. Cole Advisors Inc. Buys 43 Shares of ServiceNow, Inc. (NYSE:NOW)

J.W. Cole Advisors Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,302 shares of the information technology services provider’s stock after acquiring an additional 43 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in ServiceNow were worth $2,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NOW. Polymer Capital Management HK LTD increased its stake in ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in ServiceNow in the 4th quarter valued at $48,802,000. Dock Street Asset Management Inc. raised its stake in ServiceNow by 3.4% in the 4th 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 during the period. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after buying an additional 138 shares during the period. Finally, Venturi Wealth Management LLC increased its position in ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after buying an additional 765 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

NYSE NOW opened at $985.67 on Monday. The stock has a 50-day simple moving average of $1,070.53 and a two-hundred day simple moving average of $972.21. The firm has a market capitalization 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 fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. 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 (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has approved a share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on NOW shares. Truist Financial raised their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Needham & Company LLC raised their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Raymond James initiated coverage on ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. Sanford C. Bernstein raised their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus raised their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One equities research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Insiders Place Their Bets

In other ServiceNow news, Director Larry Quinlan sold 415 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $1,010.46, for a total value of $419,340.90. Following the completion of the transaction, the director now owns 1,322 shares in the company, valued at $1,335,828.12. The trade was a 23.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $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 a total of 23,082 shares of company stock worth $23,401,482 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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.