Alexander Labrunerie & CO. Inc. Makes New $305,000 Investment in ServiceNow, Inc. (NYSE:NOW)

Alexander Labrunerie & CO. Inc. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 288 shares of the information technology services provider’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Czech National Bank grew its position in shares of ServiceNow by 7.4% during the third quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock worth $37,532,000 after acquiring an additional 2,900 shares during the last quarter. WealthBridge Capital Management LLC purchased a new position in shares of ServiceNow during the third quarter worth approximately $221,000. Miracle Mile Advisors LLC grew its position in ServiceNow by 90.6% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,381 shares of the information technology services provider’s stock valued at $3,918,000 after buying an additional 2,082 shares during the last quarter. Security National Bank grew its position in ServiceNow by 820.8% in the 3rd quarter. Security National Bank now owns 1,860 shares of the information technology services provider’s stock valued at $1,664,000 after buying an additional 1,658 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. grew its position in ServiceNow by 72.9% in the 3rd quarter. Verde Servicos Internacionais S.A. now owns 12,709 shares of the information technology services provider’s stock valued at $11,367,000 after buying an additional 5,359 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NOW shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. 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 on the stock. Mizuho boosted their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC boosted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Buying and Selling 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 transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NOW opened at $1,010.15 on Wednesday. The business’s fifty day moving average price is $1,083.05 and its 200 day moving average price is $959.36. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The stock has a market capitalization of $208.09 billion, a PE ratio of 147.90, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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%. Equities research analysts forecast that ServiceNow, Inc. will post 8.94 EPS for the current 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.