Meadow Creek Wealth Advisors LLC Purchases 26 Shares of ServiceNow, Inc. (NYSE:NOW)

Meadow Creek Wealth Advisors LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 265 shares of the information technology services provider’s stock after acquiring an additional 26 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in ServiceNow were worth $281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in ServiceNow during the 3rd quarter valued at $30,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter worth about $37,000. Oakworth Capital Inc. lifted its position in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,026.25 on Thursday. The stock has a market cap of $211.41 billion, a price-to-earnings ratio of 150.26, a PEG ratio of 4.74 and a beta of 0.99. The stock’s 50 day simple moving average is $1,081.85 and its two-hundred day simple moving average is $961.18. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. 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, hitting 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, analysts expect that ServiceNow, Inc. will post 8.94 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share buyback program 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOW. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $900.00 to $960.00 in a report on Monday, October 21st. Canaccord Genuity Group lifted their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Piper Sandler raised their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Needham & Company LLC upped their price objective 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. Finally, BMO Capital Markets lifted their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,778 shares of company stock valued at $21,042,138. 0.25% of the stock is owned by company insiders.

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.