JB Capital LLC Takes $219,000 Position in ServiceNow, Inc. (NYSE:NOW)

JB Capital LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 206 shares of the information technology services provider’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Polymer Capital Management HK LTD increased its holdings in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after acquiring an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow in the 4th quarter worth $48,802,000. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC raised its stake in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. Finally, Cardano Risk Management B.V. purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $105,090,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.4 %

Shares of NYSE NOW opened at $1,021.99 on Tuesday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a market capitalization of $210.53 billion, a price-to-earnings ratio of 149.63, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50-day moving average of $1,083.66 and a two-hundred day moving average of $957.36.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, analysts forecast that ServiceNow, Inc. will post 8.94 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NOW. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Raymond James began coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. Finally, Guggenheim reissued a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.93.

Insider Activity

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $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 20,731 shares of company stock worth $21,016,751 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

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.