ServiceNow, Inc. (NYSE:NOW) Holdings Lifted by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,506 shares of the information technology services provider’s stock after buying an additional 191 shares during the period. ServiceNow accounts for about 1.8% of Trinity Legacy Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Trinity Legacy Partners LLC’s holdings in ServiceNow were worth $6,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NOW. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth about $30,000. DT Investment Partners LLC increased its stake 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 period. Heck Capital Advisors LLC bought a new stake in ServiceNow during the fourth quarter worth approximately $37,000. Stonebridge Financial Group LLC acquired a new stake in ServiceNow in the fourth quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in ServiceNow in the fourth quarter worth approximately $40,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 384 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total value of $378,869.76. Following the sale, the chief executive officer now owns 6,614 shares of the company’s stock, valued at approximately $6,525,636.96. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the transaction, the insider now directly owns 6,244 shares of the company’s stock, valued at approximately $6,119,432.20. This trade represents a 27.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,806 shares of company stock valued at $16,065,122. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Cantor Fitzgerald started coverage on ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective on the stock. The Goldman Sachs Group boosted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Evercore ISI lifted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho increased their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Stock Performance

NYSE:NOW opened at $968.19 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a 50 day moving average of $1,058.36 and a 200-day moving average of $976.01. 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 stock has a market capitalization of $199.45 billion, a P/E ratio of 141.76, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are 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.