Stenger Family Office LLC Invests $2.07 Million in ServiceNow, Inc. (NYSE:NOW)

Stenger Family Office LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,954 shares of the information technology services provider's stock, valued at approximately $2,071,000.

A number of other large investors have also added to or reduced their stakes in NOW. Atala Financial Inc acquired a new position in ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. boosted its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new stake in ServiceNow during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Down 3.1 %

Shares of NYSE:NOW traded down $24.48 during trading on Friday, reaching $772.18. 1,802,088 shares of the stock were exchanged, compared to its average volume of 1,480,170. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a fifty day moving average of $852.94 and a two-hundred day moving average of $970.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $159.84 billion, a price-to-earnings ratio of 113.06, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 2,511 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,384,373.88. This trade represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NOW shares. Oppenheimer lifted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Piper Sandler raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Morgan Stanley dropped their price target on ServiceNow from $960.00 to $881.00 and set an "equal weight" rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their target price on ServiceNow from $1,250.00 to $1,100.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus lowered their price objective on ServiceNow from $1,175.00 to $950.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,057.17.

About ServiceNow

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.