Congress Wealth Management LLC DE Purchases 417 Shares of ServiceNow, Inc. (NYSE:NOW)

Congress Wealth Management LLC DE increased its position in ServiceNow, Inc. (NYSE:NOW) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,420 shares of the information technology services provider’s stock after acquiring an additional 417 shares during the quarter. Congress Wealth Management LLC DE’s holdings in ServiceNow were worth $29,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new stake in ServiceNow during the fourth quarter valued at approximately $189,000. Vanguard Group Inc. grew its position in shares of ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after acquiring an additional 190,430 shares during the period. Meridian Wealth Partners LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth $236,000. Richwood Investment Advisors LLC raised its holdings in ServiceNow by 0.7% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,382 shares of the information technology services provider’s stock worth $5,706,000 after purchasing an additional 40 shares during the period. Finally, Optimum Investment Advisors lifted its position in ServiceNow by 43.7% during the fourth quarter. Optimum Investment Advisors now owns 250 shares of the information technology services provider’s stock valued at $265,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % 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, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $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 three months, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on NOW shares. Jefferies Financial Group decreased their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. The Goldman Sachs Group raised their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Needham & Company LLC upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Truist Financial raised their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $1,275.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.31.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $827.92 on Monday. The stock has a 50 day moving average price of $971.31 and a 200-day moving average price of $985.39. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The stock has a market cap of $170.55 billion, a price-to-earnings ratio of 121.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. 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 posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

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.