Pine Valley Investments Ltd Liability Co Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Pine Valley Investments Ltd Liability Co bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 207 shares of the information technology services provider’s stock, valued at approximately $219,000.

Several other large investors have also modified their holdings of NOW. Rothschild Investment LLC raised its stake in ServiceNow by 7.1% during the fourth quarter. Rothschild Investment LLC now owns 348 shares of the information technology services provider’s stock valued at $369,000 after buying an additional 23 shares in the last quarter. Crestwood Advisors Group LLC raised its position in shares of ServiceNow by 2.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 10,795 shares of the information technology services provider’s stock valued at $11,444,000 after acquiring an additional 241 shares in the last quarter. IFP Advisors Inc lifted its stake in ServiceNow by 11.8% during the fourth quarter. IFP Advisors Inc now owns 1,949 shares of the information technology services provider’s stock worth $2,065,000 after purchasing an additional 206 shares during the last quarter. Waverton Investment Management Ltd acquired a new position in ServiceNow in the fourth quarter worth $201,000. Finally, World Equity Group Inc. bought a new stake in ServiceNow during the fourth quarter valued at $952,000. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last quarter. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 2.3 %

Shares of NOW stock opened at $920.73 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year 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. The business’s fifty day moving average is $1,041.30 and its 200-day moving average is $980.81. The stock has a market cap of $189.67 billion, a PE ratio of 134.81, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99.

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

ServiceNow declared that its board has authorized a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. Guggenheim reaffirmed a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Cantor Fitzgerald initiated coverage on ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. Canaccord Genuity Group raised their price target on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Redburn Atlantic began coverage on ServiceNow in a research note on Wednesday, February 19th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,129.72.

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.