Sanctuary Advisors LLC Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Sanctuary Advisors LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,462 shares of the information technology services provider’s stock after purchasing an additional 4,920 shares during the quarter. Sanctuary Advisors LLC’s holdings in ServiceNow were worth $32,876,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NOW. World Investment Advisors LLC raised its holdings in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. International Assets Investment Management LLC raised its holdings in ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Bank of Montreal Can raised its holdings in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares during the period. Wellington Management Group LLP raised its holdings in ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. Finally, FMR LLC raised its holdings in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Scotiabank assumed coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target on the stock. Wells Fargo & Company raised their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Barclays raised their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald started coverage on ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Down 0.4 %

NOW stock opened at $985.67 on Monday. The company’s 50 day simple moving average is $1,070.53 and its 200-day simple moving average is $972.21. The firm has a market capitalization of $203.05 billion, a PE ratio of 144.31, a P/E/G ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

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 the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Larry Quinlan sold 415 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $1,010.46, for a total value of $419,340.90. Following the transaction, the director now owns 1,322 shares of the company’s stock, valued at approximately $1,335,828.12. This trade represents a 23.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,082 shares of company stock valued at $23,401,482 over the last quarter. Company insiders own 0.25% of the company’s stock.

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.