YANKCOM Partnership Takes Position in ServiceNow, Inc. (NYSE:NOW)

YANKCOM Partnership purchased a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 386 shares of the information technology services provider’s stock, valued at approximately $409,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new stake in ServiceNow in the third quarter valued at about $30,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $37,000. DT Investment Partners LLC lifted its stake 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 purchasing an additional 17 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in ServiceNow during the fourth quarter valued at $50,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In related news, Director Larry Quinlan sold 415 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the transaction, the director now directly owns 1,737 shares of the company’s stock, valued at approximately $1,749,871.17. This trade represents a 19.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the company’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 value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,778 shares of company stock valued at $21,042,138. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $1,026.25 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $211.41 billion, a price-to-earnings ratio of 150.26, a P/E/G ratio of 4.74 and a beta of 0.99. The business’s 50-day moving average is $1,081.85 and its 200-day moving average is $961.18. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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 17.11%. Equities research analysts expect that ServiceNow, Inc. will post 8.94 EPS for the current fiscal year.

ServiceNow announced that its board has initiated a stock buyback program 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BMO Capital Markets raised their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Raymond James assumed coverage on ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price for the company. Cantor Fitzgerald initiated coverage on ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. Evercore ISI boosted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group increased their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

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.