New Wave Wealth Advisors LLC Has $711,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

New Wave Wealth Advisors LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 671 shares of the information technology services provider’s stock after buying an additional 18 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in ServiceNow were worth $711,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in shares of ServiceNow in the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC grew its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares in the last quarter. Oakworth Capital Inc. increased its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares during the period. Dunhill Financial LLC increased its stake in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares during the period. Finally, Vestor Capital LLC acquired a new stake in ServiceNow during the third quarter valued at approximately $48,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock valued at $21,016,751 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on NOW shares. Cantor Fitzgerald initiated coverage on ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. Citigroup boosted their price target on shares of ServiceNow from $1,071.00 to $1,432.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI lifted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, UBS Group lifted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,129.93.

ServiceNow Trading Down 11.5 %

Shares of NYSE:NOW opened at $1,011.67 on Friday. The stock has a market cap of $208.40 billion, a PE ratio of 148.12, a P/E/G ratio of 5.19 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The business has a 50 day moving average of $1,084.47 and a 200-day moving average of $952.71.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.74). ServiceNow had a return on equity of 17.56% and a net margin of 12.97%. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.98 earnings per share for the current year.

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