First Foundation Advisors Has $8.38 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

First Foundation Advisors grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,905 shares of the information technology services provider's stock after acquiring an additional 728 shares during the period. First Foundation Advisors' holdings in ServiceNow were worth $8,380,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Treasurer of the State of North Carolina boosted its position in shares of ServiceNow by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 97,707 shares of the information technology services provider's stock valued at $103,581,000 after purchasing an additional 598 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in shares of ServiceNow by 12.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 980 shares of the information technology services provider's stock worth $1,039,000 after buying an additional 106 shares during the period. Scotia Capital Inc. increased its position in shares of ServiceNow by 4.4% in the fourth quarter. Scotia Capital Inc. now owns 24,752 shares of the information technology services provider's stock worth $26,241,000 after acquiring an additional 1,034 shares in the last quarter. Evexia Wealth LLC acquired a new stake in shares of ServiceNow during the fourth quarter valued at approximately $356,000. Finally, CenterBook Partners LP lifted its position in shares of ServiceNow by 380.7% in the 4th quarter. CenterBook Partners LP now owns 3,230 shares of the information technology services provider's stock valued at $3,424,000 after acquiring an additional 2,558 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

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ServiceNow Price Performance

NYSE:NOW traded up $5.03 during trading hours on Monday, reaching $790.70. The company had a trading volume of 850,428 shares, compared to its average volume of 1,464,618. The firm has a market capitalization of $163.68 billion, a PE ratio of 115.77, a PEG ratio of 4.51 and a beta of 1.08. The stock has a 50-day moving average of $875.51 and a two-hundred day moving average of $973.89. ServiceNow, Inc. has a one year low of $637.99 and a one year 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 - Get Free Report) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a stock repurchase plan 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOW. Canaccord Genuity Group reissued a "buy" rating and set a $1,275.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. Wells Fargo & Company dropped their price target on ServiceNow from $1,250.00 to $1,100.00 and set an "overweight" rating on the stock in a research report on Monday. Scotiabank decreased their price objective on ServiceNow from $1,230.00 to $1,050.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. William Blair reissued an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price objective on shares of ServiceNow in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,068.76.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,080,123.85. This trade represents a 8.80 % 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, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction 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 transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,351 shares of company stock valued at $20,050,076. 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.