ServiceNow, Inc. (NYSE:NOW) Stake Raised by Alerus Financial NA

Alerus Financial NA increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 37.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,869 shares of the information technology services provider’s stock after buying an additional 1,332 shares during the quarter. Alerus Financial NA’s holdings in ServiceNow were worth $5,162,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of analysts have recently commented on NOW shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,048.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Needham & Company LLC raised their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. Truist Financial increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group upped their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,093.76.

ServiceNow Stock Performance

NYSE:NOW opened at $828.73 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $955.81 and its 200 day simple moving average is $983.64. The firm has a market capitalization of $170.72 billion, a PE ratio of 121.34, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 net margin of 12.97% and a return on equity of 17.11%. On average, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’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 transaction, the insider now directly owns 3,649 shares in the company, 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. Over the last 90 days, insiders have sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company’s stock.

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.