Abundance Wealth Counselors Acquires 89 Shares of ServiceNow, Inc. (NYSE:NOW)

Abundance Wealth Counselors grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 36.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 330 shares of the information technology services provider’s stock after purchasing an additional 89 shares during the quarter. Abundance Wealth Counselors’ holdings in ServiceNow were worth $350,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the third quarter valued at approximately $30,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in ServiceNow in the fourth quarter worth about $37,000. Oakworth Capital Inc. grew its stake in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the period. Finally, Dunhill Financial LLC lifted its position in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 0.7 %

NOW opened at $1,020.17 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $1,083.66 and its 200-day moving average is $954.46. The firm has a market capitalization of $210.16 billion, a P/E ratio of 149.37, a P/E/G ratio of 5.19 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.56%. Analysts expect that ServiceNow, Inc. will post 8.98 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a stock repurchase 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 often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NOW. Sanford C. Bernstein lifted their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. UBS Group lifted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Scotiabank started coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective on the stock. Finally, Citigroup increased their price target on shares of ServiceNow from $1,071.00 to $1,432.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.93.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 2,229 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 transaction of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by corporate insiders.

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.