TBH Global Asset Management LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

TBH Global Asset Management LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 302 shares of the information technology services provider’s stock after buying an additional 11 shares during the quarter. TBH Global Asset Management LLC’s holdings in ServiceNow were worth $320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bryn Mawr Capital Management LLC raised its holdings in ServiceNow by 6,117.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 117,822 shares of the information technology services provider’s stock valued at $124,905,000 after acquiring an additional 115,927 shares in the last quarter. Financial Perspectives Inc raised its holdings in shares of ServiceNow by 12.6% in the 4th quarter. Financial Perspectives Inc now owns 545 shares of the information technology services provider’s stock valued at $578,000 after purchasing an additional 61 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of ServiceNow during the 4th quarter worth $32,176,000. Vista Capital Partners Inc. acquired a new position in shares of ServiceNow during the fourth quarter worth $337,000. Finally, Hudson Value Partners LLC increased its holdings in ServiceNow by 2.8% in the fourth quarter. Hudson Value Partners LLC now owns 1,393 shares of the information technology services provider’s stock valued at $1,477,000 after buying an additional 38 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,023 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the sale, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,280,016. The trade was a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 2,404 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $980.05, for a total value of $2,356,040.20. Following the completion of the transaction, the insider now owns 6,244 shares of the company’s stock, valued at approximately $6,119,432.20. This represents a 27.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,806 shares of company stock valued at $16,065,122. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NOW shares. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Barclays increased their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Redburn Atlantic assumed coverage on shares of ServiceNow in a research report on Wednesday. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 1.1 %

NYSE:NOW opened at $986.61 on Thursday. The stock has a market capitalization of $203.24 billion, a price-to-earnings ratio of 144.45, a PEG ratio of 4.59 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a fifty day moving average price of $1,061.97 and a two-hundred day moving average price of $976.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.