ServiceNow, Inc. (NYSE:NOW) Shares Bought by OMC Financial Services LTD

OMC Financial Services LTD boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,035 shares of the information technology services provider’s stock after buying an additional 227 shares during the quarter. ServiceNow accounts for about 1.4% of OMC Financial Services LTD’s portfolio, making the stock its 17th largest holding. OMC Financial Services LTD’s holdings in ServiceNow were worth $3,217,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in ServiceNow during the third quarter valued at $30,000. DT Investment Partners LLC lifted its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth about $37,000. Oakworth Capital Inc. grew its holdings in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the period. Finally, Dunhill Financial LLC raised its position in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the completion of the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,384,373.88. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,702 shares of company stock worth $20,965,306 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NOW. Needham & Company LLC raised their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Stifel Nicolaus raised their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective for the company. Barclays raised their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Thursday, January 30th. 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 issued a strong buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 1.5 %

Shares of NOW opened at $1,007.79 on Monday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a market capitalization of $207.61 billion, a P/E ratio of 147.55, a P/E/G ratio of 4.76 and a beta of 0.99. The firm has a 50-day moving average price of $1,080.32 and a 200 day moving average price of $965.20. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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 forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

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.