Vivid Wealth Management LLC Has $681,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Vivid Wealth Management LLC decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 642 shares of the information technology services provider’s stock after selling 46 shares during the period. Vivid Wealth Management LLC’s holdings in ServiceNow were worth $681,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Roxbury Financial LLC bought a new position in ServiceNow in the 4th quarter worth approximately $224,000. Empire Life Investments Inc. bought a new position in ServiceNow in the 4th quarter worth approximately $3,824,000. Nations Financial Group Inc. IA ADV bought a new position in ServiceNow in the 4th quarter worth approximately $228,000. Spinnaker Trust bought a new position in ServiceNow in the 4th quarter worth approximately $212,000. Finally, Center for Financial Planning Inc. grew its holdings in shares of ServiceNow by 273.6% during the 4th quarter. Center for Financial Planning Inc. now owns 198 shares of the information technology services provider’s stock worth $210,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Needham & Company LLC lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Oppenheimer lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Raymond James assumed coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Trading Down 0.4 %

Shares of NOW opened at $985.67 on Friday. The stock has a fifty day moving average price of $1,073.31 and a two-hundred day moving average price of $969.70. 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. The company has a market cap of $203.05 billion, a price-to-earnings ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99.

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

ServiceNow announced that its board has approved a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry Quinlan sold 415 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $1,010.46, for a total value of $419,340.90. Following the completion of the sale, the director now owns 1,322 shares of the company’s stock, valued at $1,335,828.12. This represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,257 shares of company stock worth $23,579,376 over the last 90 days. 0.25% of the stock is owned by insiders.

ServiceNow 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.