Callan Capital LLC Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Callan Capital LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,779 shares of the information technology services provider’s stock after purchasing an additional 58 shares during the period. Callan Capital LLC’s holdings in ServiceNow were worth $1,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Avidian Wealth Enterprises LLC increased its stake 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 period. Redhawk Wealth Advisors Inc. increased its stake in ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 10 shares during the period. Catalyst Financial Partners LLC increased its stake in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 11 shares during the period. Institute for Wealth Management LLC. grew its position in shares of ServiceNow by 0.4% during 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, TBH Global Asset Management LLC grew its position in shares of ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOW. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target on the stock. The Goldman Sachs Group increased their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Trading Down 3.1 %

Shares of NYSE:NOW opened at $937.79 on Friday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The stock has a market cap of $193.18 billion, a price-to-earnings ratio of 137.30, a PEG ratio of 4.51 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $1,054.69 and a 200-day moving average price of $977.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. Equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a share buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow 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 transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,806 shares of company stock worth $16,065,122 over the last three months. 0.25% of the stock is currently owned by 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.