Vista Cima Wealth Management LLC Makes New $717,000 Investment in ServiceNow, Inc. (NYSE:NOW)

Vista Cima Wealth Management LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, Holdings Channel.com reports. The firm bought 676 shares of the information technology services provider’s stock, valued at approximately $717,000. ServiceNow accounts for about 0.7% of Vista Cima Wealth Management LLC’s portfolio, making the stock its 28th largest position.

Several other hedge funds have also bought and sold shares of NOW. Janus Henderson Group PLC increased its stake in ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after acquiring an additional 12,533 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of ServiceNow during the fourth quarter worth $48,802,000. Dock Street Asset Management Inc. grew its stake in shares of ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after buying an additional 1,105 shares during the last quarter. Rheos Capital Works Inc. bought a new stake in shares of ServiceNow during the fourth quarter worth $10,071,000. Finally, FMR LLC grew its stake in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird boosted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Erste Group Bank upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 2,404 shares of ServiceNow stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the sale, the insider now directly owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This represents a 27.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,872 shares of company stock valued at $13,261,400 in the last three months. Company insiders own 0.38% of the company’s stock.

ServiceNow Trading Up 0.5%

Shares of NOW stock opened at $1,040.22 on Monday. The company has a 50 day moving average of $863.52 and a 200-day moving average of $973.56. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a market cap of $215.33 billion, a P/E ratio of 152.30, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.41 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has approved a share repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.