RD Lewis Holdings Inc. Takes $832,000 Position in ServiceNow, Inc. (NYSE:NOW)

RD Lewis Holdings Inc. purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 825 shares of the information technology services provider's stock, valued at approximately $832,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOW. Atala Financial Inc purchased a new position in shares of ServiceNow during the fourth quarter worth about $28,000. Truvestments Capital LLC purchased a new stake in ServiceNow in the third quarter worth approximately $30,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $34,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 0.5 %

NYSE NOW traded up $3.80 during trading hours on Friday, hitting $827.92. The company's stock had a trading volume of 2,904,241 shares, compared to its average volume of 1,349,511. The stock has a fifty day moving average of $971.31 and a 200 day moving average of $983.30. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a market capitalization of $170.55 billion, a P/E ratio of 121.22, a PEG ratio of 4.51 and a beta of 1.03. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

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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 net margin of 12.97% and a return on equity of 17.11%. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, January 6th. TD Cowen raised their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Royal Bank of Canada set a $986.00 price objective on ServiceNow in a research note on Tuesday, March 11th. Needham & Company LLC lifted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,100.31.

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.