First Foundation Advisors Has $8.38 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

First Foundation Advisors boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 10.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,905 shares of the information technology services provider’s stock after purchasing an additional 728 shares during the quarter. First Foundation Advisors’ holdings in ServiceNow were worth $8,380,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Atala Financial Inc acquired a new position in ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the 4th quarter valued at $32,000. FPC Investment Advisory Inc. raised its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NOW shares. Redburn Atlantic started coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Stifel Nicolaus lowered their price objective on shares of ServiceNow from $1,175.00 to $950.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Mizuho lowered their target price on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. increased their target price on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,079.10.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock worth $20,050,076 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Down 2.7 %

NOW opened at $803.43 on Thursday. 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 stock has a market cap of $165.51 billion, a price-to-earnings ratio of 117.63, a PEG ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company’s 50-day moving average price is $884.76 and its two-hundred day moving average price is $974.96.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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 net margin of 12.97% and a return on equity of 17.11%. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved a stock buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is 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.