JBF Capital Inc. Makes New $3.40 Million Investment in ServiceNow, Inc. (NYSE:NOW)

JBF Capital Inc. bought a new position in shares of 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 firm bought 3,204 shares of the information technology services provider's stock, valued at approximately $3,397,000. ServiceNow makes up about 0.6% of JBF Capital Inc.'s holdings, making the stock its 21st largest holding.

Several other institutional investors also recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in ServiceNow during the third quarter valued at about $9,833,000. Anchor Investment Management LLC raised its holdings in shares of ServiceNow by 6.1% during the third quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider's stock valued at $1,220,000 after acquiring an additional 78 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $202,000. World Investment Advisors LLC boosted its stake in ServiceNow by 585.8% in the 3rd quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider's stock worth $5,857,000 after purchasing an additional 5,594 shares during the period. Finally, Sfmg LLC purchased a new position in ServiceNow during the 3rd quarter worth approximately $226,000. Institutional investors own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $121.83 on Thursday, hitting $934.53. 4,129,156 shares of the company were exchanged, compared to its average volume of 1,917,412. The company's 50 day moving average price is $840.59 and its two-hundred day moving average price is $967.11. The firm has a market capitalization of $193.45 billion, a price-to-earnings ratio of 136.85, a PEG ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.78 by ($1.47). ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. Research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently issued reports on NOW. Oppenheimer increased their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Canaccord Genuity Group decreased their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday. TD Securities reiterated a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a report on Thursday. Needham & Company LLC raised their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, Guggenheim upped their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,035.39.

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.