Sargent Investment Group LLC Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Sargent Investment Group LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294 shares of the information technology services provider’s stock after acquiring an additional 31 shares during the period. Sargent Investment Group LLC’s holdings in ServiceNow were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NOW. Czech National Bank raised its holdings in shares of ServiceNow by 7.4% in the 3rd quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock worth $37,532,000 after purchasing an additional 2,900 shares during the period. Ignite Planners LLC purchased a new position in ServiceNow in the third quarter valued at approximately $209,000. Alpha Cubed Investments LLC lifted its position in ServiceNow by 14.0% during the third quarter. Alpha Cubed Investments LLC now owns 375 shares of the information technology services provider’s stock valued at $335,000 after buying an additional 46 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in ServiceNow by 7.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 3,427 shares of the information technology services provider’s stock worth $3,065,000 after buying an additional 239 shares during the period. Finally, Brookstone Capital Management increased its position in shares of ServiceNow by 4.8% in the third quarter. Brookstone Capital Management now owns 15,086 shares of the information technology services provider’s stock worth $13,493,000 after acquiring an additional 692 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, January 31st. The Goldman Sachs Group raised their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Canaccord Genuity Group upped 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. BMO Capital Markets lifted their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein upped their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insiders Place Their Bets

In other news, Director Larry Quinlan sold 415 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the sale, the director now directly owns 1,737 shares of the company’s stock, valued at $1,749,871.17. The trade was a 19.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,778 shares of company stock worth $21,042,138. 0.25% of the stock is owned by insiders.

ServiceNow Stock Up 1.6 %

Shares of NOW stock opened at $1,026.25 on Thursday. 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 stock has a market cap of $211.41 billion, a PE ratio of 150.26, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. The business’s fifty day moving average is $1,081.85 and its 200-day moving average is $961.18. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly 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 net margin of 12.97% and a return on equity of 17.11%. Equities analysts expect that ServiceNow, Inc. will post 8.94 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.