Transcendent Capital Group LLC Has $556,000 Position in ServiceNow, Inc. (NYSE:NOW)

Transcendent Capital Group LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 524 shares of the information technology services provider’s stock after acquiring an additional 40 shares during the quarter. Transcendent Capital Group LLC’s holdings in ServiceNow were worth $556,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NOW. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after purchasing an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after buying an additional 10 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in shares of ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after acquiring an additional 11 shares during the last quarter. Finally, TBH Global Asset Management LLC lifted its holdings in ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after purchasing an additional 11 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 2,404 shares of ServiceNow stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the completion of the sale, the insider now directly owns 6,244 shares of the company’s stock, valued at approximately $6,119,432.20. This trade represents a 27.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,384,373.88. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,264 shares of company stock valued at $13,358,909. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NOW. Truist Financial lifted their price target 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. Jefferies Financial Group decreased their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, January 30th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Stock Down 1.3 %

NYSE NOW opened at $926.32 on Tuesday. The stock’s 50 day simple moving average is $1,050.62 and its 200 day simple moving average is $980.72. 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, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a market cap of $190.82 billion, a PE ratio of 135.63, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts forecast 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 stock buyback plan 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is 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.