Comprehensive Financial Planning Inc. PA Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

Comprehensive Financial Planning Inc. PA bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, Holdings Channel.com reports. The firm bought 1,275 shares of the information technology services provider’s stock, valued at approximately $1,352,000. ServiceNow makes up 1.1% of Comprehensive Financial Planning Inc. PA’s portfolio, making the stock its 24th biggest holding.

Other large investors have also modified their holdings of the company. Redhawk Wealth Advisors Inc. grew its position in ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 10 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after buying an additional 11 shares during the period. Institute for Wealth Management LLC. lifted its holdings in ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after buying an additional 11 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares in the last quarter. Finally, BluePointe Capital Management LLC increased its position in shares of ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JMP Securities restated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, Citigroup decreased their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Stock Performance

NOW opened at $1,007.79 on Monday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a market capitalization of $207.61 billion, a price-to-earnings ratio of 147.55, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The business has a 50 day moving average price of $1,080.32 and a two-hundred day moving average price of $965.20. 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 earnings results 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%. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,702 shares of company stock worth $20,965,306 over the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company 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.