ServiceNow, Inc. (NYSE:NOW) Holdings Lifted by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 16.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 558 shares of the information technology services provider’s stock after buying an additional 79 shares during the period. Exencial Wealth Advisors LLC’s holdings in ServiceNow were worth $592,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI boosted its stake in ServiceNow by 39.6% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,502 shares of the information technology services provider’s stock valued at $1,604,000 after buying an additional 426 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ServiceNow by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,292,922 shares of the information technology services provider’s stock valued at $1,370,652,000 after buying an additional 56,585 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in ServiceNow by 2.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,477 shares of the information technology services provider’s stock valued at $27,009,000 after buying an additional 617 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in ServiceNow by 39.4% during the fourth quarter. Meridian Wealth Management LLC now owns 4,392 shares of the information technology services provider’s stock valued at $4,656,000 after buying an additional 1,241 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in ServiceNow by 38.1% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,763 shares of the information technology services provider’s stock valued at $1,800,000 after buying an additional 486 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’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 $3,370,654.28. This trade represents a 44.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NOW shares. Raymond James started coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. Piper Sandler upped their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Canaccord Genuity Group upped their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $916.34 on Thursday. 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 firm has a market cap of $188.77 billion, a price-to-earnings ratio of 134.16, a P/E/G ratio of 4.51 and a beta of 0.99. The business’s 50-day simple moving average is $1,026.73 and its 200-day simple moving average is $984.57. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

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 analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.