Sheaff Brock Investment Advisors LLC Purchases 22 Shares of ServiceNow, Inc. (NYSE:NOW)

Sheaff Brock Investment Advisors LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 596 shares of the information technology services provider’s stock after buying an additional 22 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in ServiceNow were worth $632,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after purchasing an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after buying an additional 10 shares in the last quarter. Catalyst Financial Partners LLC grew its stake in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after buying an additional 11 shares in the last quarter. Institute for Wealth Management LLC. grew its stake in shares of ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after buying an additional 11 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction 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 approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,082 shares of company stock valued at $23,401,482 over the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 0.4 %

NYSE:NOW opened at $985.67 on Monday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The firm has a fifty day simple moving average of $1,070.53 and a 200-day simple moving average of $972.21. 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 company has a market capitalization of $203.05 billion, a P/E ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 net margin of 12.97% and a return on equity of 17.11%. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on NOW shares. Truist Financial lifted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Guggenheim reissued a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Raymond James began coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target for the company. Finally, Barclays lifted their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow 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.