Jackson Creek Investment Advisors LLC Raises Position in ServiceNow, Inc. (NYSE:NOW)

Jackson Creek Investment Advisors LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 506 shares of the information technology services provider’s stock after purchasing an additional 65 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in ServiceNow were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in NOW. Truvestments Capital LLC purchased a new position in ServiceNow in the 3rd quarter worth $30,000. FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $37,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.9 %

Shares of NOW stock opened at $850.54 on Friday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market cap of $175.21 billion, a P/E ratio of 124.53, a P/E/G ratio of 4.51 and a beta of 1.03. 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 company has a 50 day simple moving average of $1,017.44 and a two-hundred day simple moving average of $984.89.

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

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

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of the company’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 completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NOW shares. Needham & Company LLC lifted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Redburn Atlantic began coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, Mizuho boosted their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently 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.