Kestra Private Wealth Services LLC Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Kestra Private Wealth Services LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,927 shares of the information technology services provider’s stock after buying an additional 1,141 shares during the period. Kestra Private Wealth Services LLC’s holdings in ServiceNow were worth $5,223,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. bought a new position in shares of ServiceNow during the third quarter valued at about $262,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in shares of ServiceNow by 1,929.2% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,409 shares of the information technology services provider’s stock valued at $3,049,000 after acquiring an additional 3,241 shares during the last quarter. Thomasville National Bank raised its stake in shares of ServiceNow by 9.3% during the third quarter. Thomasville National Bank now owns 15,305 shares of the information technology services provider’s stock valued at $13,689,000 after acquiring an additional 1,307 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of ServiceNow by 14.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 729 shares of the information technology services provider’s stock valued at $652,000 after acquiring an additional 94 shares during the last quarter. Finally, Paladin Wealth LLC bought a new position in shares of ServiceNow during the third quarter valued at about $611,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NOW shares. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Citigroup decreased their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Canaccord Genuity Group increased their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Oppenheimer increased their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One investment 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 81 shares of ServiceNow stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the transaction, the general counsel now owns 6,843 shares in the company, valued at approximately $6,956,183.22. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,702 shares of company stock worth $20,965,306 in the last 90 days. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Up 1.3 %

NYSE:NOW opened at $1,021.52 on Tuesday. The company’s 50 day moving average price is $1,080.32 and its 200-day moving average price is $966.85. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week 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 $210.43 billion, a price-to-earnings ratio of 149.56, a PEG ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its 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 net margin of 12.97% and a return on equity of 17.11%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a stock repurchase 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication 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.