Alexander Labrunerie & CO. Inc. Takes Position in ServiceNow, Inc. (NYSE:NOW)

Alexander Labrunerie & CO. Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 288 shares of the information technology services provider’s stock, valued at approximately $305,000.

Several other large investors have also modified their holdings of NOW. Czech National Bank grew its position in ServiceNow by 7.4% during the 3rd quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock worth $37,532,000 after purchasing an additional 2,900 shares during the last quarter. WealthBridge Capital Management LLC purchased a new stake in ServiceNow during the 3rd quarter worth approximately $221,000. Miracle Mile Advisors LLC grew its position in ServiceNow by 90.6% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,381 shares of the information technology services provider’s stock worth $3,918,000 after purchasing an additional 2,082 shares during the last quarter. Security National Bank boosted its holdings in shares of ServiceNow by 820.8% in the 3rd quarter. Security National Bank now owns 1,860 shares of the information technology services provider’s stock valued at $1,664,000 after acquiring an additional 1,658 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. boosted its holdings in shares of ServiceNow by 72.9% in the 3rd quarter. Verde Servicos Internacionais S.A. now owns 12,709 shares of the information technology services provider’s stock valued at $11,367,000 after acquiring an additional 5,359 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 1.1 %

Shares of NOW stock opened at $1,010.15 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $208.09 billion, a PE ratio of 147.90, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. The company has a 50-day moving average of $1,083.05 and a two-hundred day moving average of $959.36. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 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%. On average, analysts predict that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NOW shares. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Mizuho upped their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Cantor Fitzgerald began coverage on shares of ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price objective on the stock. Scotiabank began coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

About ServiceNow

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.