2,197 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Greykasell Wealth Strategies Inc.

Greykasell Wealth Strategies Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,197 shares of the information technology services provider’s stock, valued at approximately $2,329,000. ServiceNow makes up 1.3% of Greykasell Wealth Strategies Inc.’s portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Atala Financial Inc purchased a new stake in ServiceNow during the fourth quarter valued at about $28,000. Truvestments Capital LLC purchased a new stake in ServiceNow during the third quarter valued at about $30,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow during the fourth quarter valued at about $32,000. FPC Investment Advisory Inc. boosted its position in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new stake in ServiceNow during the fourth quarter valued at about $34,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $845.75 on Friday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a 50 day simple moving average of $992.95 and a two-hundred day simple moving average of $983.44. The company has a market capitalization of $174.22 billion, a price-to-earnings ratio of 123.83, a P/E/G ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Scotiabank assumed coverage on shares of ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. Oppenheimer increased their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,114.24.

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.