Certuity LLC Acquires 77 Shares of ServiceNow, Inc. (NYSE:NOW)

Certuity LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 13.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 668 shares of the information technology services provider’s stock after buying an additional 77 shares during the quarter. Certuity LLC’s holdings in ServiceNow were worth $708,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Leavell Investment Management Inc. bought a new position in ServiceNow during the fourth quarter valued at $246,000. Guided Capital Wealth Management LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at $3,214,000. Harbor Advisory Corp MA purchased a new position in shares of ServiceNow during the 4th quarter valued at $211,000. Portfolio Design Labs LLC grew its stake in shares of ServiceNow by 12.4% during the 4th quarter. Portfolio Design Labs LLC now owns 2,098 shares of the information technology services provider’s stock worth $2,224,000 after acquiring an additional 231 shares during the period. Finally, Quent Capital LLC increased its holdings in ServiceNow by 2.9% in the 4th quarter. Quent Capital LLC now owns 987 shares of the information technology services provider’s stock worth $1,046,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $981.42 on Thursday. The stock’s 50-day moving average is $1,078.82 and its 200 day moving average is $969.48. The stock has a market cap of $202.17 billion, a price-to-earnings ratio of 143.69, a P/E/G ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

NOW has been the subject of a number of research reports. Mizuho increased their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Guggenheim reissued a “sell” rating and set a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Finally, Cantor Fitzgerald started coverage on ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on 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 directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,224 shares of company stock valued at $25,593,525 over the last three months. 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.