Hudson Value Partners LLC Buys 38 Shares of ServiceNow, Inc. (NYSE:NOW)

Hudson Value Partners LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,393 shares of the information technology services provider’s stock after purchasing an additional 38 shares during the quarter. Hudson Value Partners LLC’s holdings in ServiceNow were worth $1,477,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. GTS Securities LLC grew its position in shares of ServiceNow by 116.2% in the fourth quarter. GTS Securities LLC now owns 2,967 shares of the information technology services provider’s stock valued at $3,145,000 after purchasing an additional 21,271 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at $84,000. Breed s Hill Capital LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at $494,000. Vise Technologies Inc. grew its position in shares of ServiceNow by 46.2% in the fourth quarter. Vise Technologies Inc. now owns 5,194 shares of the information technology services provider’s stock valued at $5,506,000 after purchasing an additional 1,641 shares in the last quarter. Finally, Connecticut Wealth Management LLC grew its position in shares of ServiceNow by 1.0% in the fourth quarter. Connecticut Wealth Management LLC now owns 1,697 shares of the information technology services provider’s stock valued at $1,799,000 after purchasing an additional 17 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,619 shares of company stock worth $5,230,568. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NOW. Guggenheim lifted their price target on ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a research report on Thursday, April 24th. Robert W. Baird lifted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Sanford C. Bernstein reissued an “outperform” rating and set a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. UBS Group reissued a “buy” rating and set a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Jefferies Financial Group dropped their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,062.50.

ServiceNow Trading Up 0.1%

Shares of NOW stock opened at $1,015.74 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $878.23 and a two-hundred day moving average price of $975.16. 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 $210.26 billion, a P/E ratio of 148.72, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

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

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

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.