Xponance Inc. Buys 1,402 Shares of ServiceNow, Inc. (NYSE:NOW)

Xponance Inc. increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,036 shares of the information technology services provider’s stock after purchasing an additional 1,402 shares during the quarter. ServiceNow makes up 0.5% of Xponance Inc.’s investment portfolio, making the stock its 27th biggest holding. Xponance Inc.’s holdings in ServiceNow were worth $56,225,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NOW. Atala Financial Inc bought a new stake in shares of ServiceNow in the fourth quarter worth $28,000. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter worth $30,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the fourth quarter worth $32,000. FPC Investment Advisory Inc. grew its stake in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of ServiceNow in the fourth quarter worth $34,000. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of a number of research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $1,275.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. Truist Financial upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. TD Cowen upped their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,108.03.

ServiceNow Stock Performance

ServiceNow stock opened at $843.03 on Tuesday. The firm’s fifty day moving average price is $988.28 and its 200-day moving average price is $985.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $173.66 billion, a P/E ratio of 123.43, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS 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, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan 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 plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 in the last 90 days. 0.25% of the stock is owned by company 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.