38 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 38 shares of the information technology services provider’s stock, valued at approximately $40,000.

Several other institutional investors have also modified their holdings of the business. Foundations Investment Advisors LLC raised its stake in ServiceNow by 19.3% during the third quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider’s stock valued at $558,000 after buying an additional 101 shares in the last quarter. Segment Wealth Management LLC raised its stake in ServiceNow by 39.3% during the third quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider’s stock valued at $634,000 after buying an additional 200 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in ServiceNow by 44.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,076 shares of the information technology services provider’s stock valued at $963,000 after buying an additional 329 shares in the last quarter. Axecap Investments LLC acquired a new stake in ServiceNow during the third quarter valued at approximately $985,000. Finally, International Assets Investment Management LLC raised its stake in ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on NOW shares. Citigroup cut their price objective on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective on the stock. Mizuho increased their price target on 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 increased their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Guggenheim reiterated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $968.19 on Friday. The stock has a fifty day moving average price of $1,058.36 and a two-hundred day moving average price of $976.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $199.45 billion, a P/E ratio of 141.76, a PEG ratio of 4.64 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.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul John Smith sold 2,404 shares of ServiceNow stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the completion of the transaction, the insider now owns 6,244 shares in the company, valued at $6,119,432.20. The trade was a 27.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,806 shares of company stock worth $16,065,122 in the last three months. 0.25% of the stock is currently 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.