Canvas Wealth Advisors LLC Purchases 22 Shares of ServiceNow, Inc. (NYSE:NOW)

Canvas Wealth Advisors LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 360 shares of the information technology services provider’s stock after purchasing an additional 22 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in ServiceNow were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Octavia Wealth Advisors LLC bought a new position in ServiceNow in the 3rd quarter worth approximately $223,000. Ritholtz Wealth Management grew its stake in ServiceNow by 7.1% during the third quarter. Ritholtz Wealth Management now owns 2,475 shares of the information technology services provider’s stock valued at $2,214,000 after acquiring an additional 164 shares in the last quarter. Annex Advisory Services LLC increased its holdings in ServiceNow by 12.6% in the 3rd quarter. Annex Advisory Services LLC now owns 18,476 shares of the information technology services provider’s stock valued at $16,525,000 after acquiring an additional 2,074 shares during the last quarter. Shaker Investments LLC OH purchased a new stake in ServiceNow in the 3rd quarter worth $2,006,000. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of ServiceNow by 22.6% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,948 shares of the information technology services provider’s stock valued at $2,637,000 after purchasing an additional 543 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,702 shares of company stock valued at $20,965,306. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. Robert W. Baird reduced their target price on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Citigroup lowered their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Scotiabank began coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 1.5 %

NOW opened at $1,007.79 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $1,080.32 and its two-hundred day moving average is $965.20. The company has a market capitalization of $207.61 billion, a P/E ratio of 147.55, a PEG ratio of 4.76 and a beta of 0.99. 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 results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

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.