Three Seasons Wealth LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Three Seasons Wealth LLC bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,087 shares of the information technology services provider's stock, valued at approximately $2,212,000. ServiceNow makes up 1.1% of Three Seasons Wealth LLC's portfolio, making the stock its 29th biggest holding.

A number of other large investors have also bought and sold shares of NOW. Norges Bank acquired a new position in shares of ServiceNow during the fourth quarter valued at $2,603,360,000. Proficio Capital Partners LLC lifted its stake in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of ServiceNow during the fourth quarter worth $682,468,000. Price T Rowe Associates Inc. MD boosted its holdings in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of ServiceNow during the 4th quarter worth about $393,868,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NOW. Needham & Company LLC reduced their price objective on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Thursday. Sanford C. Bernstein reissued an "outperform" rating and set a $1,003.00 price target on shares of ServiceNow in a research report on Thursday. BMO Capital Markets lowered their price objective on shares of ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Citigroup dropped their price objective on ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James decreased their target price on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,032.94.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $7.51 during mid-day trading on Friday, reaching $946.08. The company had a trading volume of 2,886,611 shares, compared to its average volume of 1,504,540. 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 has a market cap of $195.84 billion, a price-to-earnings ratio of 138.52, a PEG ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company's 50-day moving average price is $838.68 and its 200-day moving average price is $967.71.

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, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock buyback program 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. The trade was a 10.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry Quinlan sold 415 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $1,007.41, for a total value of $418,075.15. Following the sale, the director now owns 1,737 shares of the company's stock, valued at approximately $1,749,871.17. This trade represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is currently owned by corporate insiders.

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.