New Wave Wealth Advisors LLC Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

New Wave Wealth Advisors LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 671 shares of the information technology services provider’s stock after buying an additional 18 shares during the period. New Wave Wealth Advisors LLC’s holdings in ServiceNow were worth $711,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Redhawk Wealth Advisors Inc. grew its holdings in shares of ServiceNow by 2.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after buying an additional 10 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after acquiring an additional 11 shares during the last quarter. First Affirmative Financial Network lifted its stake in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,011.67 on Friday. The firm’s 50-day simple moving average is $1,084.47 and its 200 day simple moving average is $952.71. The stock has a market cap of $208.40 billion, a P/E ratio of 148.12, a P/E/G ratio of 5.19 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.74). ServiceNow had a return on equity of 17.56% and a net margin of 12.97%. Equities analysts expect that ServiceNow, Inc. will post 8.98 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock repurchase plan 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 455 shares of the business’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 transaction of $481,635.70. Following the completion of 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 ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NOW shares. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Thursday. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 target price on the stock. Stifel Nicolaus increased their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Sanford C. Bernstein boosted their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Barclays increased their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.93.

About ServiceNow

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.