Vest Financial LLC Acquires 220 Shares of ServiceNow, Inc. (NYSE:NOW)

Vest Financial LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 22.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,214 shares of the information technology services provider’s stock after buying an additional 220 shares during the quarter. Vest Financial LLC’s holdings in ServiceNow were worth $1,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NOW. LVW Advisors LLC increased its position in shares of ServiceNow by 34.4% during the third quarter. LVW Advisors LLC now owns 528 shares of the information technology services provider’s stock worth $472,000 after purchasing an additional 135 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in ServiceNow by 116.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,740 shares of the information technology services provider’s stock valued at $4,236,000 after buying an additional 2,550 shares during the last quarter. First Affirmative Financial Network boosted its holdings in ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after acquiring an additional 12 shares in the last quarter. Octavia Wealth Advisors LLC acquired a new position in shares of ServiceNow during the third quarter valued at about $223,000. Finally, Perfromance Wealth Partners LLC lifted its stake in shares of ServiceNow by 134.5% during the third quarter. Perfromance Wealth Partners LLC now owns 973 shares of the information technology services provider’s stock worth $870,000 after buying an additional 558 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.5 %

Shares of NYSE:NOW opened at $1,007.79 on Friday. The business has a 50-day moving average price of $1,080.32 and a 200 day moving average price of $963.81. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. 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 company has a market capitalization of $207.61 billion, a price-to-earnings ratio of 147.55, a PEG ratio of 4.76 and a beta of 0.99.

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

ServiceNow announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding 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 often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on NOW. Evercore ISI lifted 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. Citigroup dropped their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Mizuho raised their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird dropped their price objective on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. This trade represents a 16.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,702 shares of company stock worth $20,965,306. 0.25% of the stock is currently owned by company insiders.

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.