one8zero8 LLC Invests $366,000 in ServiceNow, Inc. (NYSE:NOW)

one8zero8 LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 345 shares of the information technology services provider’s stock, valued at approximately $366,000.

Other institutional investors have also recently bought and sold shares of the company. United Bank acquired a new position in shares of ServiceNow in the third quarter worth about $480,000. Harbour Investments Inc. boosted its stake in ServiceNow by 14.0% in the 3rd quarter. Harbour Investments Inc. now owns 269 shares of the information technology services provider’s stock worth $241,000 after purchasing an additional 33 shares during the period. Empowered Funds LLC grew its position in ServiceNow by 34.0% during the 3rd quarter. Empowered Funds LLC now owns 7,087 shares of the information technology services provider’s stock worth $6,339,000 after purchasing an additional 1,797 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in ServiceNow by 28.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 205,164 shares of the information technology services provider’s stock valued at $183,497,000 after purchasing an additional 45,099 shares during the period. Finally, WESPAC Advisors SoCal LLC lifted its holdings in shares of ServiceNow by 5.6% in the third quarter. WESPAC Advisors SoCal LLC now owns 3,894 shares of the information technology services provider’s stock valued at $3,483,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity 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 completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. This trade represents a 44.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 4.2 %

Shares of NOW stock opened at $845.75 on Monday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 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 firm has a market cap of $174.22 billion, a PE ratio of 123.83, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The stock has a 50 day moving average of $992.95 and a 200-day moving average of $985.70.

ServiceNow (NYSE:NOW) last released its 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 net margin of 12.97% and a return on equity of 17.11%. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has authorized a share buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

NOW has been the topic of several recent analyst reports. Oppenheimer upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. UBS Group decreased their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted 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. Finally, The Goldman Sachs Group increased their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,114.24.

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.