Arcadia Investment Management Corp MI Has $14.42 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Arcadia Investment Management Corp MI boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,600 shares of the information technology services provider's stock after buying an additional 277 shares during the period. ServiceNow makes up about 2.3% of Arcadia Investment Management Corp MI's investment portfolio, making the stock its 13th largest position. Arcadia Investment Management Corp MI's holdings in ServiceNow were worth $14,418,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter valued at about $30,000. Heck Capital Advisors LLC acquired a new position in ServiceNow in the 4th quarter valued at approximately $37,000. Stonebridge Financial Group LLC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $37,000. Bank of Jackson Hole Trust acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $40,000. Finally, DT Investment Partners LLC increased its position in shares of 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 purchasing an additional 17 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 3.1 %

NOW stock traded down $30.19 during midday trading on Friday, reaching $937.79. The company's stock had a trading volume of 2,001,299 shares, compared to its average volume of 1,645,842. The business's 50-day simple moving average is $1,058.36 and its 200-day simple moving average is $976.01. 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 52 week low of $637.99 and a 52 week high of $1,198.09. The stock has a market cap of $193.18 billion, a PE ratio of 137.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly 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%. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a stock repurchase program 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 2,404 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,806 shares of company stock worth $16,065,122. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NOW has been the subject of several research reports. StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised 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. Evercore ISI upped their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Canaccord Genuity Group raised their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Oppenheimer upped 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. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,129.72.

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.