Boothe Investment Group Inc. Has $8.52 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Boothe Investment Group Inc. lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,039 shares of the information technology services provider’s stock after selling 1,649 shares during the quarter. ServiceNow makes up approximately 3.7% of Boothe Investment Group Inc.’s investment portfolio, making the stock its 6th largest position. Boothe Investment Group Inc.’s holdings in ServiceNow were worth $8,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Silver Oak Securities Incorporated increased its stake in shares of ServiceNow by 25.6% in the third quarter. Silver Oak Securities Incorporated now owns 632 shares of the information technology services provider’s stock valued at $554,000 after buying an additional 129 shares during the period. Allworth Financial LP increased its stake in shares of ServiceNow by 1.5% in the third quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock valued at $996,000 after buying an additional 16 shares during the period. Arkadios Wealth Advisors increased its stake in shares of ServiceNow by 30.3% in the third quarter. Arkadios Wealth Advisors now owns 2,642 shares of the information technology services provider’s stock valued at $2,363,000 after buying an additional 614 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of ServiceNow by 2.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 1,080 shares of the information technology services provider’s stock valued at $966,000 after buying an additional 23 shares during the period. Finally, Pathway Financial Advisers LLC increased its stake in shares of ServiceNow by 41.8% in the third quarter. Pathway Financial Advisers LLC now owns 906 shares of the information technology services provider’s stock valued at $810,000 after buying an additional 267 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $937.79 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 has a market cap of $193.18 billion, a P/E ratio of 137.30, a PEG ratio of 4.51 and a beta of 0.99. The company has a fifty day simple moving average of $1,054.69 and a 200 day simple moving average of $979.81. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

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

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOW. TD Cowen increased 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. JMP Securities reissued a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Guggenheim reissued a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald began coverage on shares of ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 384 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total value of $378,869.76. Following the transaction, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at approximately $6,525,636.96. The trade was a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,264 shares of company stock valued at $13,358,909 in the last three months. 0.25% of the stock is currently owned by insiders.

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.