Net Worth Advisory Group Has $884,000 Position in ServiceNow, Inc. (NYSE:NOW)

Net Worth Advisory Group reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 22.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 834 shares of the information technology services provider’s stock after selling 243 shares during the period. Net Worth Advisory Group’s holdings in ServiceNow were worth $884,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in ServiceNow during the 3rd quarter worth about $30,000. FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% during the 4th 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 period. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $34,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $37,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 8.1 %

NYSE:NOW opened at $781.60 on Tuesday. 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 stock has a market capitalization of $161.01 billion, a PE ratio of 114.44, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The firm’s 50 day moving average is $1,011.72 and its 200 day moving average is $985.64. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding 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 often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the business’s 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 sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. Raymond James initiated coverage on ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price for the company. Jefferies Financial Group reduced their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company 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. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, Truist Financial raised their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow 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.