Stratos Wealth Partners LTD. Acquires 75 Shares of ServiceNow, Inc. (NYSE:NOW)

Stratos Wealth Partners LTD. increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,721 shares of the information technology services provider’s stock after acquiring an additional 75 shares during the period. Stratos Wealth Partners LTD.’s holdings in ServiceNow were worth $9,245,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NOW. Sargent Investment Group LLC raised its holdings in shares of ServiceNow by 11.8% in the fourth quarter. Sargent Investment Group LLC now owns 294 shares of the information technology services provider’s stock valued at $299,000 after purchasing an additional 31 shares during the last quarter. Tanager Wealth Management LLP bought a new stake in ServiceNow in the 4th quarter worth about $212,000. E. Ohman J or Asset Management AB increased its stake in ServiceNow by 10.7% in the 4th quarter. E. Ohman J or Asset Management AB now owns 9,210 shares of the information technology services provider’s stock valued at $9,764,000 after buying an additional 890 shares during the last quarter. Commonwealth Financial Services LLC purchased a new position in shares of ServiceNow in the 4th quarter worth approximately $229,000. Finally, Rockline Wealth Management LLC grew its holdings in shares of ServiceNow by 6.4% in the fourth quarter. Rockline Wealth Management LLC now owns 1,440 shares of the information technology services provider’s stock valued at $1,526,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of recent analyst reports. Guggenheim restated a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Raymond James started 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. Finally, KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,867 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the completion of the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $7,007,026.71. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,778 shares of company stock valued at $21,042,138 over the last quarter. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Up 1.6 %

NOW stock opened at $1,026.25 on Thursday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a market cap of $211.41 billion, a price-to-earnings ratio of 150.26, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. 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’s 50 day moving average is $1,081.85 and its 200 day moving average is $961.18.

ServiceNow (NYSE:NOW) last posted 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 net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts predict that ServiceNow, Inc. will post 8.94 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in 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 plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.