255 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by May Hill Capital LLC

May Hill Capital LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 255 shares of the information technology services provider’s stock, valued at approximately $270,000.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after buying an additional 100,670 shares during the last quarter. National Wealth Management Group LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $405,000. Nemes Rush Group LLC grew its position in ServiceNow by 139.5% during the 4th quarter. Nemes Rush Group LLC now owns 400 shares of the information technology services provider’s stock worth $424,000 after purchasing an additional 233 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in ServiceNow by 0.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 4,164 shares of the information technology services provider’s stock valued at $4,226,000 after purchasing an additional 16 shares during the period. Finally, Summit Financial LLC lifted its holdings in shares of ServiceNow by 12.4% in the fourth quarter. Summit Financial LLC now owns 2,023 shares of the information technology services provider’s stock valued at $2,145,000 after purchasing an additional 223 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NOW shares. Oppenheimer increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a research report on Tuesday, March 11th. Jefferies Financial Group cut their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,088.59.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, 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 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 ninety days. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

NYSE NOW opened at $810.61 on Wednesday. The company’s fifty day moving average is $939.07 and its two-hundred day moving average is $983.75. The firm has a market capitalization of $166.99 billion, a price-to-earnings ratio of 118.68, a P/E/G ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued 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 return on equity of 17.11% and a net margin of 12.97%. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is 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.