Verus Capital Partners LLC Buys 152 Shares of ServiceNow, Inc. (NYSE:NOW)

Verus Capital Partners LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 63.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 393 shares of the information technology services provider’s stock after acquiring an additional 152 shares during the quarter. Verus Capital Partners LLC’s holdings in ServiceNow were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Polymer Capital Management HK LTD increased its stake in shares of ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after buying an additional 981 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in ServiceNow during the 4th quarter valued at $48,802,000. Dock Street Asset Management Inc. increased its position in shares of ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after acquiring an additional 1,105 shares during the period. Avidian Wealth Enterprises LLC increased its position in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $929.56 on Friday. The company has a market capitalization of $191.49 billion, a price-to-earnings ratio of 136.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. 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 one year low of $637.99 and a one year high of $1,198.09. The company’s 50-day moving average is $1,038.07 and its 200 day moving average is $981.66.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a share buyback 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,351 shares of company stock worth $20,050,076. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NOW shares. Jefferies Financial Group cut their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. 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 research report on Thursday, December 5th. Piper Sandler boosted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Guggenheim reaffirmed a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. Finally, Citigroup decreased their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.