Foster Group Inc. Buys New Shares in ServiceNow, Inc. (NYSE:NOW)

Foster Group Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 199 shares of the information technology services provider’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SteelPeak Wealth LLC bought a new position in shares of ServiceNow during the 4th quarter worth approximately $357,000. Southern Style Financial Inc. acquired a new stake in ServiceNow during the 4th quarter valued at $926,000. Mayflower Financial Advisors LLC boosted its position in ServiceNow by 1.7% during the fourth quarter. Mayflower Financial Advisors LLC now owns 1,472 shares of the information technology services provider’s stock worth $1,560,000 after purchasing an additional 25 shares during the period. BSW Wealth Partners increased its holdings in shares of ServiceNow by 13.6% in the fourth quarter. BSW Wealth Partners now owns 944 shares of the information technology services provider’s stock valued at $1,001,000 after purchasing an additional 113 shares during the last quarter. Finally, Bensler LLC bought a new position in shares of ServiceNow in the fourth quarter valued at about $2,436,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NOW shares. The Goldman Sachs Group upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. JMP Securities increased their target price on ServiceNow from $1,000.00 to $1,300.00 and gave the stock a “market outperform” rating in a research note on Tuesday, January 21st. BMO Capital Markets upped their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,116.14.

ServiceNow Price Performance

ServiceNow stock opened at $1,144.86 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $235.84 billion, a PE ratio of 178.05, a P/E/G ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a 50-day moving average price of $1,082.77 and a two-hundred day moving average price of $950.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($1.74). ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. Analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This represents a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock valued at $21,016,751 over the last 90 days. 0.25% of the stock is owned by insiders.

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.