Forvis Mazars Wealth Advisors LLC Invests $240,000 in ServiceNow, Inc. (NYSE:NOW)

Forvis Mazars Wealth Advisors LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 226 shares of the information technology services provider’s stock, valued at approximately $240,000.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC bought a new stake in ServiceNow during the 3rd quarter worth about $30,000. FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in ServiceNow during the 4th quarter worth about $37,000. Stonebridge Financial Group LLC bought a new stake in ServiceNow during the 4th quarter worth about $37,000. Finally, Bank of Jackson Hole Trust bought a new stake in ServiceNow during the 4th quarter worth about $40,000. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 2,404 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the completion of the transaction, the insider now directly owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This trade represents a 27.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the transaction, the director now directly owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,264 shares of company stock worth $13,358,909. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $926.32 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $190.82 billion, a P/E ratio of 135.63, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. The company’s 50 day moving average price is $1,050.62 and its two-hundred day moving average price is $980.72. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective 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. Piper Sandler increased their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Cantor Fitzgerald started coverage on shares of ServiceNow in a report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective on the stock. Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.