Ashton Thomas Securities LLC Acquires 54 Shares of ServiceNow, Inc. (NYSE:NOW)

Ashton Thomas Securities LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,437 shares of the information technology services provider’s stock after buying an additional 54 shares during the period. Ashton Thomas Securities LLC’s holdings in ServiceNow were worth $1,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TD Asset Management Inc. increased its stake in ServiceNow by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 297,404 shares of the information technology services provider’s stock valued at $315,284,000 after purchasing an additional 6,041 shares in the last quarter. EFG Asset Management North America Corp. grew its holdings in shares of ServiceNow by 9.3% in the fourth quarter. EFG Asset Management North America Corp. now owns 5,988 shares of the information technology services provider’s stock valued at $6,346,000 after acquiring an additional 511 shares in the last quarter. Modern Wealth Management LLC increased its position in shares of ServiceNow by 6.9% during the fourth quarter. Modern Wealth Management LLC now owns 355 shares of the information technology services provider’s stock valued at $363,000 after acquiring an additional 23 shares during the last quarter. Prudential Financial Inc. lifted its holdings in ServiceNow by 3.4% during the fourth quarter. Prudential Financial Inc. now owns 292,851 shares of the information technology services provider’s stock worth $310,457,000 after acquiring an additional 9,680 shares during the period. Finally, Interchange Capital Partners LLC grew its stake in ServiceNow by 5.2% in the 4th quarter. Interchange Capital Partners LLC now owns 845 shares of the information technology services provider’s stock valued at $896,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $851.56 on Tuesday. The firm has a market cap of $175.42 billion, a P/E ratio of 124.68, a P/E/G ratio of 4.51 and a beta of 1.03. The firm’s fifty day moving average is $968.10 and its 200 day moving average is $985.50. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly 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 return on equity of 17.11% and a net margin of 12.97%. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has authorized a stock repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Mizuho decreased their target price on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Canaccord Genuity Group restated a “buy” rating and issued a $1,275.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. One research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,100.31.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, 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 valued at $20,050,076 over the last three months. 0.25% of the stock is owned by company insiders.

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.