Spire Wealth Management Has $11.71 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Spire Wealth Management raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,048 shares of the information technology services provider's stock after acquiring an additional 378 shares during the period. Spire Wealth Management's holdings in ServiceNow were worth $11,713,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the 3rd quarter valued at approximately $30,000. Heck Capital Advisors LLC acquired a new stake in ServiceNow in the 4th quarter valued at about $37,000. DT Investment Partners LLC lifted its position in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. Oakworth Capital Inc. raised its holdings in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in ServiceNow during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NOW shares. Robert W. Baird reduced their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday, January 17th. They issued an "overweight" rating and a $1,332.00 price target on the stock. Canaccord Genuity Group boosted their price target on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Royal Bank of Canada restated an "outperform" rating and issued a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein lifted their target price on ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,129.72.

ServiceNow Trading Up 0.9 %

Shares of NYSE:NOW traded up $8.79 during trading on Wednesday, reaching $1,018.92. The company's stock had a trading volume of 905,432 shares, compared to its average volume of 1,701,036. 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's 50 day simple moving average is $1,081.85 and its two-hundred day simple moving average is $961.18. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market capitalization of $209.90 billion, a PE ratio of 149.23, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, research analysts predict that ServiceNow, Inc. will post 8.94 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the business's 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 owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. The trade was a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 over the last ninety days. 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.