Atala Financial Inc Purchases Shares of 26 ServiceNow, Inc. (NYSE:NOW)

Atala Financial Inc purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26 shares of the information technology services provider’s stock, valued at approximately $28,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Truvestments Capital LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $30,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the 4th quarter valued at $32,000. FPC Investment Advisory Inc. raised its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Noble Wealth Management PBC acquired a new position in shares of ServiceNow in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at $37,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 4.2 %

ServiceNow stock opened at $845.75 on Friday. The company’s 50 day simple moving average is $992.95 and its 200 day simple moving average is $984.50. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm has a market capitalization of $174.22 billion, a price-to-earnings ratio of 123.83, a PEG ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm’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 directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s 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 sale, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. This trade 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. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent research reports. Redburn Atlantic initiated coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Jefferies Financial Group dropped their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. 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, January 30th. UBS Group dropped their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Finally, Needham & Company LLC increased their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,114.24.

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.