Vista Capital Partners Inc. Invests $337,000 in ServiceNow, Inc. (NYSE:NOW)

Vista Capital Partners Inc. purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 318 shares of the information technology services provider’s stock, valued at approximately $337,000.

Several other hedge funds have also recently bought and sold shares of NOW. Truvestments Capital LLC acquired a new stake in ServiceNow during the 3rd quarter worth approximately $30,000. DT Investment Partners LLC boosted 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 worth $35,000 after buying an additional 17 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in ServiceNow during the fourth quarter valued at about $37,000. Stonebridge Financial Group LLC purchased a new stake in ServiceNow during the fourth quarter valued at about $37,000. Finally, Oakworth Capital Inc. lifted its holdings in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price on the stock. Canaccord Genuity Group raised their price target on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 30th. The Goldman Sachs Group lifted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Guggenheim restated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. Finally, Piper Sandler lifted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry Quinlan sold 415 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the sale, the director now directly owns 1,737 shares in the company, valued at approximately $1,749,871.17. The trade was a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,811 shares of company stock worth $11,159,073 over the last ninety days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.9 %

Shares of ServiceNow stock opened at $995.97 on Wednesday. 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 firm has a market cap of $205.17 billion, a P/E ratio of 145.82, a P/E/G ratio of 4.59 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The business has a 50-day moving average price of $1,065.18 and a 200 day moving average price of $975.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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 return on equity of 17.11% and a net margin of 12.97%. On average, sell-side 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 initiated a stock repurchase plan 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.