Runnymede Capital Advisors Inc. Invests $121,000 in ServiceNow, Inc. (NYSE:NOW)

Runnymede Capital Advisors Inc. bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, Holdings Channel reports. The firm bought 114 shares of the information technology services provider’s stock, valued at approximately $121,000.

Other hedge funds also recently made changes to their positions in the company. Atala Financial Inc bought a new stake in ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow in the 4th quarter valued at about $32,000. Noble Wealth Management PBC bought a new stake in ServiceNow in the 4th quarter valued at about $34,000. Truvestments Capital LLC bought a new stake in ServiceNow in the 3rd quarter valued at about $30,000. Finally, FPC Investment Advisory Inc. raised its stake in ServiceNow by 725.0% in the 4th 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. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 2,511 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,384,373.88. The trade was a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the business’s 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 value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. Oppenheimer boosted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. TD Cowen boosted their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Citigroup decreased their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,100.31.

ServiceNow Stock Up 0.5 %

Shares of NOW opened at $827.92 on Friday. The firm has a market cap of $170.55 billion, a P/E ratio of 121.22, a P/E/G ratio of 4.51 and a beta of 1.03. The stock has a 50 day simple moving average of $971.31 and a two-hundred day simple moving average of $983.30. 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, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership 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.