Bender Robert & Associates Has $12.41 Million Position in ServiceNow, Inc. (NYSE:NOW)

Bender Robert & Associates lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,708 shares of the information technology services provider's stock after selling 2,530 shares during the quarter. ServiceNow accounts for 3.0% of Bender Robert & Associates' portfolio, making the stock its 10th biggest holding. Bender Robert & Associates' holdings in ServiceNow were worth $12,412,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Avidian Wealth Enterprises LLC increased its stake in ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in shares of ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after buying an additional 10 shares during the last quarter. Institute for Wealth Management LLC. raised its stake in shares of ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after buying an additional 11 shares during the last quarter. TBH Global Asset Management LLC boosted its position in shares of ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after buying an additional 11 shares in the last quarter. Finally, Onefund LLC grew its stake in ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NOW opened at $810.27 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $166.92 billion, a price-to-earnings ratio of 118.63, a PEG ratio of 4.51 and a beta of 1.03. The company has a fifty day simple moving average of $1,006.72 and a 200 day simple moving average of $985.52.

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ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results 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 return on equity of 17.11% and a net margin of 12.97%. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research note on Tuesday. Piper Sandler raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Jefferies Financial Group cut their price target on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Finally, Guggenheim restated a "sell" rating and set a $716.00 price objective on shares of ServiceNow in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $1,114.24.

ServiceNow 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.

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