CFO4Life Group LLC Buys New Stake in ServiceNow, Inc. (NYSE:NOW)

CFO4Life Group LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 235 shares of the information technology services provider’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in ServiceNow in the 3rd quarter valued at $30,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. raised its position 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 purchasing an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new position in ServiceNow during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in ServiceNow during the fourth quarter valued at approximately $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on NOW shares. Jefferies Financial Group decreased their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Robert W. Baird reduced their target price 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. UBS Group dropped their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group raised 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. Finally, Citigroup dropped their price objective on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,114.24.

ServiceNow Stock Performance

Shares of NOW stock opened at $809.58 on Friday. The firm has a market cap of $166.77 billion, a PE ratio of 118.53, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company’s fifty day simple moving average is $997.51 and its 200-day simple moving average is $983.31. 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 data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has initiated a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.