Waverton Investment Management Ltd Invests $201,000 in ServiceNow, Inc. (NYSE:NOW)

Waverton Investment Management Ltd bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 190 shares of the information technology services provider’s stock, valued at approximately $201,000.

Other institutional investors have also recently made changes to their positions in the company. Silver Oak Securities Incorporated increased its stake in shares of ServiceNow by 25.6% during the 3rd quarter. Silver Oak Securities Incorporated now owns 632 shares of the information technology services provider’s stock worth $554,000 after purchasing an additional 129 shares during the last quarter. Allworth Financial LP raised its stake in ServiceNow by 1.5% in the third quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock valued at $996,000 after buying an additional 16 shares during the period. Arkadios Wealth Advisors lifted its position in shares of ServiceNow by 30.3% in the third quarter. Arkadios Wealth Advisors now owns 2,642 shares of the information technology services provider’s stock valued at $2,363,000 after buying an additional 614 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of ServiceNow by 2.2% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,080 shares of the information technology services provider’s stock worth $966,000 after acquiring an additional 23 shares during the period. Finally, Pathway Financial Advisers LLC increased its holdings in shares of ServiceNow by 41.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 906 shares of the information technology services provider’s stock worth $810,000 after acquiring an additional 267 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. Needham & Company LLC raised their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Piper Sandler increased their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group boosted 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. Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Guggenheim restated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. One equities research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Down 3.1 %

NOW stock opened at $937.79 on Monday. The stock has a market capitalization of $193.18 billion, a P/E ratio of 137.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $1,054.69 and a 200-day moving average price of $979.81. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its earnings results 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%. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a stock buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 2,511 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,384,373.88. This trade represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction dated 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 owns 3,027 shares in the company, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,264 shares of company stock valued at $13,358,909 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

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.