Optimum Investment Advisors Purchases 76 Shares of ServiceNow, Inc. (NYSE:NOW)

Optimum Investment Advisors boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 43.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250 shares of the information technology services provider’s stock after acquiring an additional 76 shares during the period. Optimum Investment Advisors’ holdings in ServiceNow were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Atala Financial Inc purchased a new position in ServiceNow during the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter valued at $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the 4th quarter valued at $34,000. Truvestments Capital LLC bought a new position in shares of ServiceNow in the 3rd quarter worth $30,000. Finally, FPC Investment Advisory Inc. lifted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $827.92 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company’s fifty day moving average price is $971.31 and its 200 day moving average price is $984.34. The company has a market capitalization of $170.55 billion, a PE ratio of 121.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last posted its 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 return on equity of 17.11% and a net margin of 12.97%. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Analyst Ratings Changes

Several equities analysts have issued reports on NOW shares. Raymond James initiated coverage on ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price on the stock. The Goldman Sachs Group lifted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Guggenheim reiterated a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Canaccord Genuity Group restated a “buy” rating and issued a $1,275.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. Finally, KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,100.31.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’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 value of $2,720,355.40. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last three months. 0.25% of the stock is currently owned by company 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.