Farther Finance Advisors LLC Buys 123 Shares of ServiceNow, Inc. (NYSE:NOW)

Farther Finance Advisors LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,373 shares of the information technology services provider’s stock after buying an additional 123 shares during the period. Farther Finance Advisors LLC’s holdings in ServiceNow were worth $3,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in ServiceNow by 3.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,048 shares of the information technology services provider’s stock worth $1,111,000 after purchasing an additional 39 shares during the last quarter. Prosperity Wealth Management Inc. bought a new stake in ServiceNow during the fourth quarter worth $304,000. Prosperity Financial Group Inc. lifted its stake in ServiceNow by 22.9% during the fourth quarter. Prosperity Financial Group Inc. now owns 800 shares of the information technology services provider’s stock worth $848,000 after purchasing an additional 149 shares during the last quarter. Natural Investments LLC bought a new stake in ServiceNow during the fourth quarter worth $5,096,000. Finally, Avantax Planning Partners Inc. lifted its stake in ServiceNow by 1.6% during the fourth quarter. Avantax Planning Partners Inc. now owns 890 shares of the information technology services provider’s stock worth $944,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of NYSE NOW opened at $844.27 on Thursday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock has a market cap of $173.92 billion, a price-to-earnings ratio of 123.61, a PEG ratio of 4.51 and a beta of 1.03. 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’s 50-day simple moving average is $1,002.41 and its 200 day simple moving average is $984.53.

ServiceNow (NYSE:NOW) last announced its quarterly 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, research analysts anticipate 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 buyback 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 buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry Quinlan sold 415 shares of ServiceNow 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 transaction of $418,075.15. Following the transaction, the director now directly owns 1,737 shares in the company, valued at approximately $1,749,871.17. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock valued at $20,050,076 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Citigroup dropped their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Robert W. Baird dropped their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, Jefferies Financial Group dropped their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,114.24.

ServiceNow Company 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.