Bryn Mawr Capital Management LLC Acquires 115,927 Shares of ServiceNow, Inc. (NYSE:NOW)

Bryn Mawr Capital Management LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6,117.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,822 shares of the information technology services provider's stock after acquiring an additional 115,927 shares during the quarter. ServiceNow comprises about 4.7% of Bryn Mawr Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Bryn Mawr Capital Management LLC owned approximately 0.06% of ServiceNow worth $124,905,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NOW. OLD National Bancorp IN increased its holdings in ServiceNow by 2.8% in the 3rd quarter. OLD National Bancorp IN now owns 597 shares of the information technology services provider's stock valued at $534,000 after buying an additional 16 shares during the period. Vest Financial LLC increased its holdings in ServiceNow by 205.8% in the 3rd quarter. Vest Financial LLC now owns 994 shares of the information technology services provider's stock valued at $889,000 after buying an additional 669 shares during the period. Raleigh Capital Management Inc. increased its holdings in ServiceNow by 59.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 662 shares of the information technology services provider's stock valued at $592,000 after buying an additional 247 shares during the period. Foundations Investment Advisors LLC increased its holdings in ServiceNow by 19.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider's stock valued at $558,000 after buying an additional 101 shares during the period. Finally, Oakworth Capital Inc. increased its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock valued at $39,000 after buying an additional 14 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 3.1 %

Shares of NYSE NOW traded down $30.19 during midday trading on Friday, reaching $937.79. The stock had a trading volume of 2,001,299 shares, compared to its average volume of 1,645,842. The firm has a market cap of $193.18 billion, a price-to-earnings ratio of 137.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company's 50 day moving average price is $1,054.69 and its 200 day moving average price is $977.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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 expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. The trade was a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,806 shares of company stock worth $16,065,122 in the last quarter. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on NOW shares. Jefferies Financial Group decreased their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Needham & Company LLC raised their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Stifel Nicolaus raised their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Truist Financial raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "hold" rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group raised their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.