Howard Capital Management Inc. Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Howard Capital Management Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,279 shares of the information technology services provider’s stock after acquiring an additional 77 shares during the period. Howard Capital Management Inc.’s holdings in ServiceNow were worth $1,356,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Integral Investment Advisors Inc. raised its position in shares of ServiceNow by 39.7% during the 4th quarter. Integral Investment Advisors Inc. now owns 493 shares of the information technology services provider’s stock valued at $523,000 after purchasing an additional 140 shares during the period. Valliance Asset Management Ltd purchased a new stake in ServiceNow in the 4th quarter worth $2,120,000. Wealthspire Advisors LLC increased its stake in ServiceNow by 12.6% in the 4th quarter. Wealthspire Advisors LLC now owns 2,258 shares of the information technology services provider’s stock worth $2,394,000 after buying an additional 253 shares in the last quarter. FPC Investment Advisory Inc. raised its holdings 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 acquiring an additional 29 shares during the period. Finally, Sigma Planning Corp lifted its position in shares of ServiceNow by 1.7% in the fourth quarter. Sigma Planning Corp now owns 4,783 shares of the information technology services provider’s stock valued at $5,071,000 after acquiring an additional 80 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction that occurred on 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 completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,264 shares of company stock valued at $13,358,909. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $937.79 on Monday. The company has a market capitalization of $193.18 billion, a price-to-earnings ratio of 137.30, a PEG ratio of 4.51 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 firm’s 50-day moving average is $1,054.69 and its 200 day moving average is $979.81. 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated a share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NOW shares. Guggenheim reaffirmed a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Oppenheimer lifted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective 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. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Piper Sandler increased their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price 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.