Rothschild Investment LLC Acquires 23 Shares of ServiceNow, Inc. (NYSE:NOW)

Rothschild Investment LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 348 shares of the information technology services provider’s stock after acquiring an additional 23 shares during the period. Rothschild Investment LLC’s holdings in ServiceNow were worth $369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC bought a new position in ServiceNow during the third quarter valued at approximately $30,000. FPC Investment Advisory Inc. grew its holdings in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $37,000. Stonebridge Financial Group LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of ServiceNow in the fourth quarter worth approximately $40,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Mizuho raised their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Canaccord Genuity Group raised their target price on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group dropped their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Down 0.6 %

NOW stock opened at $922.14 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $189.96 billion, a P/E ratio of 135.01, a PEG ratio of 4.51 and a beta of 0.99. The business’s 50-day moving average price is $1,046.77 and its 200-day moving average price is $981.50.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a stock buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, 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. In the last three months, insiders have sold 17,706 shares of company stock valued at $17,644,106. Corporate insiders own 0.25% of the company’s stock.

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.