Private Portfolio Partners LLC Has $557,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Private Portfolio Partners LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 525 shares of the information technology services provider’s stock after buying an additional 22 shares during the quarter. Private Portfolio Partners LLC’s holdings in ServiceNow were worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NOW. World Investment Advisors LLC boosted its holdings in ServiceNow by 499,668.1% in the third 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 acquiring an additional 4,771,830 shares in the last quarter. Norges Bank acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $2,603,360,000. Proficio Capital Partners LLC lifted its holdings in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after purchasing an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in ServiceNow in the 4th quarter valued at $682,468,000. Finally, Wellington Management Group LLP increased its stake in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $824.64 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market cap of $169.88 billion, a PE ratio of 120.74, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The firm’s 50-day simple moving average is $933.06 and its two-hundred day simple moving average is $982.64.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a stock repurchase program 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NOW shares. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. Guggenheim reiterated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Robert W. Baird dropped their target price on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,087.21.

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.