Murphy & Mullick Capital Management Corp Takes $1.16 Million Position in ServiceNow, Inc. (NYSE:NOW)

Murphy & Mullick Capital Management Corp bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,097 shares of the information technology services provider's stock, valued at approximately $1,163,000. ServiceNow makes up approximately 1.1% of Murphy & Mullick Capital Management Corp's investment portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atala Financial Inc acquired a new position in ServiceNow during the fourth quarter valued at approximately $28,000. Truvestments Capital LLC bought a new position in shares of ServiceNow in the 3rd quarter valued at about $30,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. lifted its stake in 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 during the last quarter. Finally, Noble Wealth Management PBC bought a new position in ServiceNow during the fourth quarter worth about $34,000. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NOW has been the subject of several research reports. Mizuho cut their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Robert W. Baird reduced their target price on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a report on Wednesday. Redburn Atlantic assumed coverage on ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Citigroup dropped their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,093.76.

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Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The stock was 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 directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the company's stock in a transaction on 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 owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Down 3.8 %

Shares of NOW traded down $31.13 during midday trading on Friday, hitting $796.61. 1,758,174 shares of the company's stock traded hands, compared to its average volume of 1,408,303. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $164.10 billion, a price-to-earnings ratio of 116.63, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The firm's fifty day moving average is $950.30 and its 200-day moving average is $984.09. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved 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 typically an indication that the company's leadership 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.