ServiceNow, Inc. (NYSE:NOW) Shares Bought by Creekmur Asset Management LLC

Creekmur Asset Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3,206.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,091 shares of the information technology services provider’s stock after buying an additional 1,058 shares during the period. Creekmur Asset Management LLC’s holdings in ServiceNow were worth $1,157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Atala Financial Inc bought a new position in shares of ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the fourth quarter worth about $32,000. Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter valued at about $34,000. FPC Investment Advisory Inc. increased its stake in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter worth about $37,000. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,351 shares of company stock valued at $20,050,076. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $810.61 on Wednesday. The firm has a market cap of $166.99 billion, a P/E ratio of 118.68, a PEG ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock’s 50-day moving average is $939.07 and its two-hundred day moving average is $983.75.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 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%. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has initiated a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOW. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Mizuho dropped their price objective on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. TD Cowen lifted their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $1,275.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,088.59.

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.