ServiceNow, Inc. (NYSE:NOW) Shares Bought by Linscomb Wealth Inc.

Linscomb Wealth Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,645 shares of the information technology services provider’s stock after purchasing an additional 143 shares during the quarter. Linscomb Wealth Inc.’s holdings in ServiceNow were worth $2,804,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new stake in ServiceNow in the third quarter valued at $30,000. FPC Investment Advisory Inc. increased its holdings in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in ServiceNow during the fourth quarter worth approximately $37,000. Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of ServiceNow in the 4th quarter valued at $40,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 2.3 %

NYSE:NOW opened at $920.73 on Friday. 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 quick ratio of 1.10 and a current ratio of 1.10. The stock has a fifty day moving average price of $1,041.30 and a two-hundred day moving average price of $980.81. The stock has a market capitalization of $189.67 billion, a price-to-earnings ratio of 134.81, a PEG ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,351 shares of company stock valued at $20,050,076. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James began coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. Cantor Fitzgerald started coverage on ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price for the company. TD Cowen lifted their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.