Compass Capital Corp MA ADV Acquires New Position in ServiceNow, Inc. (NYSE:NOW)

Compass Capital Corp MA ADV bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,315 shares of the information technology services provider's stock, valued at approximately $1,475,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NOW. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth about $30,000. DT Investment Partners LLC boosted its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after buying an additional 17 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $37,000. Stonebridge Financial Group LLC acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $40,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,023 shares of ServiceNow stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total value of $1,010,724.00. Following the transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,280,016. The trade was a 19.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul John Smith sold 2,404 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the sale, the insider now owns 6,244 shares of the company's stock, valued at approximately $6,119,432.20. This represents a 27.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,806 shares of company stock valued at $16,065,122 over the last quarter. Company insiders own 0.25% of the company's stock.

ServiceNow Stock Down 3.1 %

NYSE:NOW traded down $30.19 during midday trading on Friday, hitting $937.79. 2,001,299 shares of the company were exchanged, compared to its average volume of 1,645,842. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a market capitalization of $193.18 billion, a PE ratio of 137.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99. 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 company has a fifty day simple moving average of $1,058.36 and a 200 day simple moving average of $976.01.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 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%. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has authorized a share 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC boosted 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. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. JMP Securities reissued a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. KeyCorp downgraded ServiceNow from an "overweight" rating to a "sector weight" rating in a research report on Friday, December 13th. Finally, Piper Sandler increased their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.