2,039 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Argentarii LLC

Argentarii LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,039 shares of the information technology services provider’s stock, valued at approximately $2,162,000. ServiceNow makes up about 1.1% of Argentarii LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds have also bought and sold shares of NOW. Truvestments Capital LLC bought a new position in ServiceNow in the third quarter worth about $30,000. FPC Investment Advisory Inc. lifted its holdings in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Noble Wealth Management PBC bought a new position in ServiceNow in the fourth quarter worth about $34,000. Heck Capital Advisors LLC bought a new position in ServiceNow in the fourth quarter worth about $37,000. Finally, Stonebridge Financial Group LLC bought a new position in ServiceNow in the fourth quarter worth about $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NOW shares. The Goldman Sachs Group lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Piper Sandler lifted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Guggenheim reaffirmed a “sell” rating and set a $716.00 price target on shares of ServiceNow in a report on Wednesday, January 22nd. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird cut their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Trading Down 1.9 %

NYSE NOW opened at $850.54 on Friday. The firm’s 50 day moving average price is $1,017.44 and its two-hundred day moving average price is $984.89. The stock has a market cap of $175.21 billion, a price-to-earnings ratio of 124.53, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month 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 issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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%. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, 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 sold 20,351 shares of company stock valued at $20,050,076 in the last quarter. Company insiders own 0.25% of the company’s stock.

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.