Nicolet Advisory Services LLC Has $1.14 Million Position in ServiceNow, Inc. (NYSE:NOW)

Nicolet Advisory Services LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,109 shares of the information technology services provider’s stock after buying an additional 95 shares during the quarter. Nicolet Advisory Services LLC’s holdings in ServiceNow were worth $1,136,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NOW. World Investment Advisors LLC grew its stake in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares in the last quarter. Norges Bank bought a new stake in ServiceNow in the 4th quarter valued at about $2,603,360,000. Proficio Capital Partners LLC increased its holdings in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after purchasing an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd bought a new position in shares of ServiceNow during the fourth quarter worth approximately $682,468,000. Finally, Wellington Management Group LLP raised its position in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after buying an additional 615,797 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $824.64 on Thursday. The stock’s 50 day moving average price is $933.06 and its two-hundred day moving average price is $982.64. The stock has a market capitalization of $169.88 billion, a price-to-earnings ratio of 120.74, 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. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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%. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the company’s 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 sale, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. UBS Group lowered their price objective on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. TD Cowen raised their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,087.21.

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.