Davidson Capital Management Inc. Purchases 120 Shares of ServiceNow, Inc. (NYSE:NOW)

Davidson Capital Management Inc. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,863 shares of the information technology services provider’s stock after acquiring an additional 120 shares during the quarter. ServiceNow makes up 1.1% of Davidson Capital Management Inc.’s portfolio, making the stock its 15th biggest position. Davidson Capital Management Inc.’s holdings in ServiceNow were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC grew its holdings in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after buying an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of 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 valued at $1,025,000 after purchasing an additional 11 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in shares of ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after purchasing an additional 11 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction on Monday, November 25th. The stock was 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 approximately $11,710,600. The trade was a 16.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,809 shares of company stock valued at $25,174,184 over the last quarter. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Down 1.3 %

Shares of NOW stock opened at $1,008.63 on Wednesday. The stock has a 50 day simple moving average of $1,079.78 and a 200 day simple moving average of $968.21. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. 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 stock has a market cap of $207.78 billion, a P/E ratio of 147.68, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank began coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Wells Fargo & Company upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Robert W. Baird decreased their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein upped their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

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.