ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,057 shares of the information technology services provider’s stock after acquiring an additional 20 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in ServiceNow were worth $1,121,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after buying an additional 226,023 shares during the period. FMR LLC raised its holdings in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after buying an additional 502,845 shares during the period. World Investment Advisors LLC lifted its position in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC lifted its position in ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Piper Sandler upped their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Redburn Atlantic assumed coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Robert W. Baird decreased their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald assumed coverage on ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $850.54 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 $175.21 billion, a P/E ratio of 124.53, a P/E/G ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company’s fifty day moving average price is $1,017.44 and its 200 day moving average price is $985.92.

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 return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has authorized a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by insiders.

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.