ServiceNow, Inc. (NYSE:NOW) is Mitchell Capital Management Co.’s 10th Largest Position

Mitchell Capital Management Co. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,324 shares of the information technology services provider’s stock after purchasing an additional 88 shares during the quarter. ServiceNow accounts for approximately 2.3% of Mitchell Capital Management Co.’s investment portfolio, making the stock its 10th largest position. Mitchell Capital Management Co.’s holdings in ServiceNow were worth $13,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the fourth quarter worth $34,000. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter valued at about $30,000. FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at about $37,000. Finally, Stonebridge Financial Group LLC bought a new position in ServiceNow in the fourth quarter worth about $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the completion of the transaction, the director now owns 1,737 shares in the company, valued at $1,749,871.17. The trade was a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.9 %

Shares of NOW stock opened at $929.56 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a market cap of $191.49 billion, a PE ratio of 136.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. The business’s fifty day moving average is $1,038.07 and its 200-day moving average is $982.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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

ServiceNow declared that its board has initiated a stock repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NOW shares. Citigroup dropped their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC upped their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Redburn Atlantic started coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group upped their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ServiceNow 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.