Navellier & Associates Inc. Has $325,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Navellier & Associates Inc. lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 82.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 307 shares of the information technology services provider’s stock after selling 1,400 shares during the quarter. Navellier & Associates Inc.’s holdings in ServiceNow were worth $325,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Truvestments Capital LLC bought a new position in shares of ServiceNow in the 3rd quarter valued at $30,000. Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the 4th quarter valued at $37,000. Stonebridge Financial Group LLC bought a new position in shares of ServiceNow in the 4th quarter valued at $37,000. Bank of Jackson Hole Trust bought a new position in shares of ServiceNow in the 4th quarter valued at $40,000. Finally, Avion Wealth lifted its stake in shares of ServiceNow by 44.8% in the 4th quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the sale, the director now directly owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value 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. In the last ninety days, insiders sold 13,264 shares of company stock valued at $13,358,909. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NOW shares. The Goldman Sachs Group increased their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a research note on Thursday, January 30th. Redburn Atlantic assumed coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Wells Fargo & Company raised their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup lowered their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $937.79 on Monday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a market capitalization of $193.18 billion, a price-to-earnings ratio of 137.30, a PEG ratio of 4.51 and a beta of 0.99. The business has a 50-day simple moving average of $1,054.69 and a 200 day simple moving average of $979.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last issued its 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 return on equity of 17.11% and a net margin of 12.97%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share repurchase program 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

ServiceNow Company 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.