1,520 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by IPG Investment Advisors LLC

IPG Investment Advisors LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, HoldingsChannel reports. The fund bought 1,520 shares of the information technology services provider’s stock, valued at approximately $1,611,000.

Several other large investors also recently modified their holdings of the business. Atala Financial Inc acquired a new position in shares of ServiceNow in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. increased its position in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $37,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $796.61 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $950.30 and a 200 day simple moving average of $984.09. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a market cap of $164.10 billion, a P/E ratio of 116.63, a PEG ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last announced its 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%. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group dropped their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Robert W. Baird decreased their target price on shares of ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a research report on Wednesday. Scotiabank cut their price target on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, Redburn Atlantic assumed coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,093.76.

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.