NewSquare Capital LLC Purchases 305 Shares of ServiceNow, Inc. (NYSE:NOW)

NewSquare Capital LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,187 shares of the information technology services provider's stock after acquiring an additional 305 shares during the period. NewSquare Capital LLC's holdings in ServiceNow were worth $6,559,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Polymer Capital Management HK LTD raised its holdings in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after purchasing an additional 981 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in ServiceNow during the 4th quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. raised its position in shares of ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after buying an additional 1,105 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after acquiring an additional 138 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock valued at $2,565,000 after acquiring an additional 765 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW traded up $10.25 during mid-day trading on Wednesday, hitting $916.34. The stock had a trading volume of 1,540,318 shares, compared to its average volume of 1,675,462. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company's fifty day simple moving average is $1,026.73 and its two-hundred day simple moving average is $984.57. The company has a market cap of $188.77 billion, a PE ratio of 134.16, a PEG ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

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 analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a share buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company's stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares of the company's stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NOW. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Oppenheimer boosted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. KeyCorp lowered ServiceNow from an "overweight" rating to a "sector weight" rating in a research report on Friday, December 13th. Finally, Raymond James assumed coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an "outperform" rating and a $1,200.00 price objective on the stock. One research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.