ServiceNow, Inc. (NYSE:NOW) Shares Bought by Evoke Wealth LLC

Evoke Wealth LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 2,459 shares of the information technology services provider’s stock after buying an additional 38 shares during the quarter. Evoke Wealth LLC’s holdings in ServiceNow were worth $2,607,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. United Bank acquired a new stake in shares of ServiceNow in the third quarter worth approximately $480,000. Harbour Investments Inc. lifted its position in ServiceNow by 14.0% during the third quarter. Harbour Investments Inc. now owns 269 shares of the information technology services provider’s stock worth $241,000 after buying an additional 33 shares in the last quarter. Accredited Investors Inc. purchased a new position in ServiceNow during the third quarter worth approximately $234,000. Atlanta Consulting Group Advisors LLC purchased a new position in ServiceNow during the third quarter worth approximately $384,000. Finally, Claro Advisors LLC lifted its position in ServiceNow by 31.8% during the third quarter. Claro Advisors LLC now owns 1,195 shares of the information technology services provider’s stock worth $1,069,000 after buying an additional 288 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $843.03 on Tuesday. The business’s fifty day moving average price is $988.28 and its two-hundred day moving average price is $985.78. The stock has a market cap of $173.66 billion, a PE ratio of 123.43, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. 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, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

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

ServiceNow declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits 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 management believes its stock is undervalued.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction on 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 sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock worth $20,050,076 over the last quarter. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NOW has been the topic of a number of analyst reports. Guggenheim reiterated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Oppenheimer lifted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,048.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. boosted their price objective on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,108.03.

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.