Trifecta Capital Advisors LLC Purchases 876 Shares of ServiceNow, Inc. (NYSE:NOW)

Trifecta Capital Advisors LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,171 shares of the information technology services provider’s stock after purchasing an additional 876 shares during the quarter. ServiceNow makes up 1.7% of Trifecta Capital Advisors LLC’s holdings, making the stock its 15th largest position. Trifecta Capital Advisors LLC’s holdings in ServiceNow were worth $8,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP raised its holdings in ServiceNow by 1.5% in the 3rd quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock valued at $996,000 after acquiring an additional 16 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in ServiceNow by 2.2% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,080 shares of the information technology services provider’s stock valued at $966,000 after acquiring an additional 23 shares during the period. GHP Investment Advisors Inc. grew its position in shares of ServiceNow by 108.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 192 shares of the information technology services provider’s stock worth $172,000 after purchasing an additional 100 shares in the last quarter. Modera Wealth Management LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $244,000. Finally, Capital Advisors Ltd. LLC grew its position in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the transaction, the director now owns 10,467 shares in the company, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,264 shares of company stock worth $13,358,909 over the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of analyst reports. Scotiabank initiated 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. Cantor Fitzgerald started coverage on shares of ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Price Performance

NOW stock opened at $926.32 on Tuesday. The firm has a market cap of $190.82 billion, a price-to-earnings ratio of 135.63, a PEG ratio of 4.51 and a beta of 0.99. 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, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company’s fifty day simple moving average is $1,050.62 and its 200 day simple moving average is $980.72.

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

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

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.