BlackDiamond Wealth Management LLC Has $247,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

BlackDiamond Wealth Management LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 233 shares of the information technology services provider’s stock after acquiring an additional 41 shares during the period. BlackDiamond Wealth Management LLC’s holdings in ServiceNow were worth $247,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Cassady Schiller Wealth Management LLC lifted its position in ServiceNow by 44.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 11 shares during the last quarter. Signaturefd LLC lifted its position in ServiceNow by 4.6% during the fourth quarter. Signaturefd LLC now owns 4,133 shares of the information technology services provider’s stock worth $4,381,000 after acquiring an additional 183 shares during the last quarter. Parallel Advisors LLC lifted its position in ServiceNow by 7.6% during the fourth quarter. Parallel Advisors LLC now owns 5,470 shares of the information technology services provider’s stock worth $5,799,000 after acquiring an additional 388 shares during the last quarter. SlateStone Wealth LLC lifted its position in ServiceNow by 14.0% during the fourth quarter. SlateStone Wealth LLC now owns 407 shares of the information technology services provider’s stock worth $431,000 after acquiring an additional 50 shares during the last quarter. Finally, Signature Wealth Management Group raised its position in shares of ServiceNow by 2.3% in the fourth quarter. Signature Wealth Management Group now owns 1,804 shares of the information technology services provider’s stock valued at $1,913,000 after buying an additional 40 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other news, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,384,373.88. This represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 over the last quarter. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Piper Sandler lifted their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Needham & Company LLC lifted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted 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. Finally, Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,108.03.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $843.03 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market cap of $173.66 billion, a price-to-earnings ratio of 123.43, a P/E/G ratio of 4.51 and a beta of 1.03. The company’s fifty day moving average is $988.28 and its 200 day moving average is $985.78.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting 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 forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.