West Tower Group LLC Has $212,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

West Tower Group LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 60.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200 shares of the information technology services provider’s stock after selling 300 shares during the quarter. West Tower Group LLC’s holdings in ServiceNow were worth $212,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Fox Hill Wealth Management raised its stake in shares of ServiceNow by 43.0% in the 4th quarter. Fox Hill Wealth Management now owns 675 shares of the information technology services provider’s stock valued at $716,000 after buying an additional 203 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of ServiceNow by 51.9% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 55,334 shares of the information technology services provider’s stock worth $58,742,000 after purchasing an additional 18,905 shares in the last quarter. Xponance Inc. increased its position in shares of ServiceNow by 2.7% during the 4th quarter. Xponance Inc. now owns 53,036 shares of the information technology services provider’s stock worth $56,225,000 after purchasing an additional 1,402 shares in the last quarter. OPTIMAS CAPITAL Ltd acquired a new stake in shares of ServiceNow during the 4th quarter worth about $1,696,000. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of ServiceNow during the 4th quarter worth about $20,057,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $830.11 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm’s 50 day moving average price is $983.82 and its two-hundred day moving average price is $985.60. The firm has a market cap of $171.00 billion, a P/E ratio of 121.54, a PEG ratio of 4.51 and a beta of 1.03.

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, 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, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOW. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup dropped their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Raymond James initiated coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price for the company. Truist Financial increased their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,100.31.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was 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. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by corporate 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.