Metis Global Partners LLC Has $13.91 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Metis Global Partners LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,121 shares of the information technology services provider’s stock after purchasing an additional 962 shares during the quarter. Metis Global Partners LLC’s holdings in ServiceNow were worth $13,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Avidian Wealth Enterprises LLC raised its stake in ServiceNow by 1.8% in the 4th 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 in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in 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 purchasing an additional 10 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in 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 purchasing an additional 11 shares in the last quarter. TBH Global Asset Management LLC raised its stake in ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after purchasing an additional 11 shares in the last quarter. Finally, BluePointe Capital Management LLC raised its stake in ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 0.9 %

NYSE:NOW opened at $929.56 on Friday. The company has a market cap of $191.49 billion, a PE ratio of 136.10, a P/E/G ratio of 4.51 and a beta of 0.99. The firm’s 50 day simple moving average is $1,038.07 and its 200 day simple moving average is $981.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, 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 stock buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NOW shares. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Mizuho raised their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Scotiabank started coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.