BostonPremier Wealth LLC Buys Shares of 411 ServiceNow, Inc. (NYSE:NOW)

BostonPremier Wealth LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 411 shares of the information technology services provider’s stock, valued at approximately $436,000.

A number of other hedge funds have also made changes to their positions in NOW. Summit Trail Advisors LLC boosted its holdings in ServiceNow by 18.9% during the fourth quarter. Summit Trail Advisors LLC now owns 2,646 shares of the information technology services provider’s stock worth $2,806,000 after buying an additional 420 shares in the last quarter. Focus Financial Network Inc. raised its stake in ServiceNow by 32.7% during the 4th quarter. Focus Financial Network Inc. now owns 17,617 shares of the information technology services provider’s stock valued at $18,676,000 after purchasing an additional 4,344 shares during the period. Panoramic Capital Partners LLC acquired a new stake in shares of ServiceNow in the fourth quarter worth $294,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of ServiceNow during the fourth quarter valued at $207,000. Finally, Sycomore Asset Management raised its position in ServiceNow by 7.1% during the fourth quarter. Sycomore Asset Management now owns 25,703 shares of the information technology services provider’s stock valued at $27,248,000 after buying an additional 1,715 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % 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 link. Also, Director Larry Quinlan sold 415 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the completion of the sale, the director now directly owns 1,737 shares in the company, valued at approximately $1,749,871.17. The trade was a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,702 shares of company stock valued at $20,965,306 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,021.52 on Tuesday. The firm has a market capitalization of $210.43 billion, a PE ratio of 149.56, a PEG ratio of 4.76 and a beta of 0.99. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The business’s 50 day moving average is $1,080.32 and its 200-day moving average is $966.85.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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%. Sell-side 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 buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOW shares. Royal Bank of Canada reissued an “outperform” rating and issued a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. Truist Financial boosted their price target 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. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.