Harbor Advisory Corp MA Invests $211,000 in ServiceNow, Inc. (NYSE:NOW)

Harbor Advisory Corp MA bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 199 shares of the information technology services provider’s stock, valued at approximately $211,000.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Thurston Springer Miller Herd & Titak Inc. increased its stake in ServiceNow by 14.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 729 shares of the information technology services provider’s stock valued at $652,000 after purchasing an additional 94 shares during the last quarter. Procyon Advisors LLC increased its stake in ServiceNow by 83.7% in the third quarter. Procyon Advisors LLC now owns 2,001 shares of the information technology services provider’s stock valued at $1,788,000 after purchasing an additional 912 shares during the last quarter. Fiduciary Alliance LLC increased its stake in ServiceNow by 31.4% in the third quarter. Fiduciary Alliance LLC now owns 427 shares of the information technology services provider’s stock valued at $382,000 after purchasing an additional 102 shares during the last quarter. CX Institutional increased its stake in ServiceNow by 1.2% in the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after purchasing an additional 13 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its stake in ServiceNow by 40.8% in the third quarter. Wesbanco Bank Inc. now owns 366 shares of the information technology services provider’s stock valued at $327,000 after purchasing an additional 106 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NOW shares. Barclays upped their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. TD Cowen boosted their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Oppenheimer boosted their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Needham & Company LLC boosted their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Truist Financial boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. One equities 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 1.3 %

Shares of NYSE NOW opened at $1,008.63 on Wednesday. The stock’s 50 day moving average price is $1,079.78 and its two-hundred day moving average price is $968.21. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The stock has a market capitalization of $207.78 billion, a P/E ratio of 147.68, a PEG ratio of 4.76 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. On average, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a stock buyback program 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares in the company, valued at $11,710,600. The trade was a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,809 shares of company stock worth $25,174,184. 0.25% of the stock is currently owned by company insiders.

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.