ServiceNow, Inc. (NYSE:NOW) Position Boosted by FineMark National Bank & Trust

FineMark National Bank & Trust raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,532 shares of the information technology services provider’s stock after acquiring an additional 430 shares during the period. FineMark National Bank & Trust’s holdings in ServiceNow were worth $12,225,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. World Investment Advisors LLC lifted its holdings in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Bank of Montreal Can raised its position in shares of ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after acquiring an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $682,468,000. Finally, Wellington Management Group LLP raised its holdings in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Larry Quinlan sold 415 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the completion of the sale, the director now owns 1,737 shares of the company’s stock, valued at $1,749,871.17. This represents a 19.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the 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 value of $481,635.70. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 in the last 90 days. 0.25% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $851.56 on Tuesday. 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, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The business’s 50-day moving average price is $968.10 and its two-hundred day moving average price is $985.50. The company has a market capitalization of $175.42 billion, a P/E ratio of 124.68, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

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 anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has initiated a share repurchase plan 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $1,275.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Piper Sandler upped their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Truist Financial lifted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,100.31.

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.