Centricity Wealth Management LLC Buys Shares of 77 ServiceNow, Inc. (NYSE:NOW)

Centricity Wealth Management LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, HoldingsChannel reports. The firm bought 77 shares of the information technology services provider’s stock, valued at approximately $82,000.

A number of other large investors have also recently made changes to their positions in NOW. Foundations Investment Advisors LLC grew its holdings in ServiceNow by 19.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider’s stock valued at $558,000 after buying an additional 101 shares in the last quarter. CENTRAL TRUST Co grew its stake in ServiceNow by 50.8% during the third quarter. CENTRAL TRUST Co now owns 2,257 shares of the information technology services provider’s stock valued at $2,019,000 after acquiring an additional 760 shares in the last quarter. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. Values First Advisors Inc. bought a new stake in ServiceNow during the 3rd quarter worth approximately $204,000. Finally, Dakota Wealth Management lifted its stake in ServiceNow by 33.6% in the 3rd quarter. Dakota Wealth Management now owns 14,477 shares of the information technology services provider’s stock worth $12,948,000 after purchasing an additional 3,639 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $937.79 on Friday. The company has a market cap of $193.18 billion, a PE ratio of 137.30, a P/E/G ratio of 4.60 and a beta of 0.99. The business has a 50 day moving average of $1,054.69 and a 200 day moving average of $977.09. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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%. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. Citigroup decreased their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. upped their target price on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Piper Sandler lifted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Mizuho boosted their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Oppenheimer raised their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling

In related news, insider Paul John Smith sold 2,404 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the sale, the insider now directly owns 6,244 shares in the company, valued at $6,119,432.20. The trade was a 27.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,023 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $988.00, for a total value of $1,010,724.00. Following the completion of the transaction, the general counsel now owns 4,332 shares of the company’s stock, valued at approximately $4,280,016. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,806 shares of company stock valued at $16,065,122 over the last three months. Corporate insiders own 0.25% of the company’s stock.

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.