GKV Capital Management Co. Inc. Invests $2.29 Million in ServiceNow, Inc. (NYSE:NOW)

GKV Capital Management Co. Inc. purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,164 shares of the information technology services provider's stock, valued at approximately $2,294,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atala Financial Inc acquired a new stake in shares of ServiceNow during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the fourth quarter worth $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow during the 4th quarter valued at about $34,000. FPC Investment Advisory Inc. boosted its position in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in ServiceNow during the fourth quarter worth $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,282 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the sale, the director now owns 40,638 shares of the company's stock, valued at $41,883,148.32. This trade represents a 5.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,250 shares of company stock valued at $19,853,273 in the last ninety days. Insiders own 0.38% of the company's stock.

ServiceNow Stock Down 3.3 %

NYSE:NOW traded down $25.63 during mid-day trading on Monday, hitting $746.53. The stock had a trading volume of 658,367 shares, compared to its average volume of 1,477,250. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a market capitalization of $154.53 billion, a PE ratio of 109.30, a PEG ratio of 4.51 and a beta of 1.08. The stock has a 50-day simple moving average of $852.94 and a two-hundred day simple moving average of $970.69.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts anticipate 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 repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Citigroup decreased their target price on ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Mizuho decreased their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. UBS Group decreased their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Finally, Piper Sandler increased their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,056.07.

ServiceNow Company 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.