Avantra Family Wealth Inc. Acquires Shares of 265 ServiceNow, Inc. (NYSE:NOW)

Avantra Family Wealth Inc. purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 265 shares of the information technology services provider's stock, valued at approximately $281,000.

Several other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC acquired a new position in ServiceNow during the third quarter valued at $30,000. DT Investment Partners LLC boosted its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after buying an additional 17 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in ServiceNow during the fourth quarter valued at approximately $37,000. Oakworth Capital Inc. boosted its position in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC lifted its stake in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 21 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.9 %

Shares of NOW stock traded up $9.05 during trading hours on Wednesday, reaching $1,019.18. The company had a trading volume of 928,270 shares, compared to its average volume of 1,701,036. The company has a market capitalization of $209.95 billion, a P/E ratio of 149.18, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. The stock's fifty day simple moving average is $1,081.85 and its 200 day simple moving average is $961.18. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting 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 8.94 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a stock repurchase 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 often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company's stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NOW shares. Evercore ISI upped their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Mizuho boosted their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, UBS Group boosted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and an average price target 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.