ServiceNow, Inc. (NYSE:NOW) Shares Bought by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 360 shares of the information technology services provider’s stock after acquiring an additional 22 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in ServiceNow were worth $382,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NOW. Octavia Wealth Advisors LLC purchased a new stake in ServiceNow during the 3rd quarter worth approximately $223,000. Ritholtz Wealth Management lifted its stake in shares of ServiceNow by 7.1% during the third quarter. Ritholtz Wealth Management now owns 2,475 shares of the information technology services provider’s stock worth $2,214,000 after buying an additional 164 shares during the period. Annex Advisory Services LLC grew its holdings in shares of ServiceNow by 12.6% during the third quarter. Annex Advisory Services LLC now owns 18,476 shares of the information technology services provider’s stock valued at $16,525,000 after buying an additional 2,074 shares during the last quarter. Shaker Investments LLC OH acquired a new position in shares of ServiceNow in the 3rd quarter valued at $2,006,000. Finally, Koshinski Asset Management Inc. raised its stake in ServiceNow by 22.6% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,948 shares of the information technology services provider’s stock worth $2,637,000 after acquiring an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 2,511 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,384,373.88. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,702 shares of company stock worth $20,965,306 over the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $1,007.79 on Monday. The firm has a market cap of $207.61 billion, a P/E ratio of 147.55, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The stock has a 50 day moving average of $1,080.32 and a two-hundred day moving average of $965.20. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has authorized a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. The Goldman Sachs Group increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,129.72.

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.