Values First Advisors Inc. Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Values First Advisors Inc. raised its position in ServiceNow, Inc. (NYSE:NOW) by 209.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 709 shares of the information technology services provider’s stock after buying an additional 480 shares during the period. Values First Advisors Inc.’s holdings in ServiceNow were worth $752,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NOW. Avion Wealth increased its position in shares of ServiceNow by 44.8% in the fourth quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 13 shares in the last quarter. Davidson Capital Management Inc. grew its stake in ServiceNow by 3.2% in the 4th quarter. Davidson Capital Management Inc. now owns 3,863 shares of the information technology services provider’s stock valued at $4,095,000 after acquiring an additional 120 shares during the period. Avidian Wealth Enterprises LLC grew its stake in ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after acquiring an additional 9 shares during the period. Great Lakes Retirement Inc. purchased a new stake in ServiceNow in the 4th quarter worth $1,020,000. Finally, Valley Brook Capital Group Inc. raised its position in ServiceNow by 2.7% during the fourth quarter. Valley Brook Capital Group Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 81 shares of ServiceNow stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the completion of the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $6,956,183.22. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,224 shares of company stock valued at $25,593,525. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW opened at $981.42 on Thursday. The firm has a 50-day simple moving average of $1,078.82 and a two-hundred day simple moving average of $969.48. The stock has a market cap of $202.17 billion, a PE ratio of 143.69, a P/E/G ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. 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 posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on NOW. TD Cowen lifted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Truist Financial lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Scotiabank started coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Finally, Raymond James started coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,129.72.

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.