Larson Financial Group LLC Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Larson Financial Group LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 440 shares of the information technology services provider’s stock after acquiring an additional 30 shares during the quarter. Larson Financial Group LLC’s holdings in ServiceNow were worth $466,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. NS Partners Ltd grew its stake in ServiceNow by 6.1% during the 4th quarter. NS Partners Ltd now owns 24,405 shares of the information technology services provider’s stock worth $25,872,000 after buying an additional 1,403 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in ServiceNow during the 4th quarter worth approximately $954,000. Banco Santander S.A. grew its stake in ServiceNow by 0.6% during the 4th quarter. Banco Santander S.A. now owns 31,449 shares of the information technology services provider’s stock worth $33,340,000 after buying an additional 201 shares during the last quarter. AMG National Trust Bank grew its stake in ServiceNow by 93.9% during the 4th quarter. AMG National Trust Bank now owns 508 shares of the information technology services provider’s stock worth $539,000 after buying an additional 246 shares during the last quarter. Finally, Bradyco Inc. purchased a new position in ServiceNow during the 4th quarter worth approximately $1,399,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $781.60 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a fifty day moving average of $1,011.72 and a two-hundred day moving average of $985.64. The company has a market capitalization of $161.01 billion, a price-to-earnings ratio of 114.44, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly 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, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has initiated a share buyback plan 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on NOW shares. Scotiabank started coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. Robert W. Baird decreased their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Friday. Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Citigroup decreased their price objective on 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.