Mirabella Financial Services LLP Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Mirabella Financial Services LLP lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 35.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,939 shares of the information technology services provider's stock after purchasing an additional 2,349 shares during the quarter. ServiceNow comprises 0.8% of Mirabella Financial Services LLP's portfolio, making the stock its 28th biggest holding. Mirabella Financial Services LLP's holdings in ServiceNow were worth $9,470,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mirova boosted its position in shares of ServiceNow by 2.7% during the fourth quarter. Mirova now owns 5,748 shares of the information technology services provider's stock valued at $6,094,000 after buying an additional 149 shares during the period. MML Investors Services LLC grew its holdings in shares of ServiceNow by 1.9% in the fourth quarter. MML Investors Services LLC now owns 55,889 shares of the information technology services provider's stock worth $59,249,000 after purchasing an additional 1,061 shares during the last quarter. MetLife Investment Management LLC increased its stake in ServiceNow by 1.0% in the 4th quarter. MetLife Investment Management LLC now owns 63,569 shares of the information technology services provider's stock worth $67,391,000 after buying an additional 660 shares during the period. Natixis lifted its holdings in ServiceNow by 1,524.4% during the 4th quarter. Natixis now owns 155,892 shares of the information technology services provider's stock valued at $165,264,000 after buying an additional 146,295 shares in the last quarter. Finally, NWK Group Inc. boosted its position in ServiceNow by 0.7% in the 4th quarter. NWK Group Inc. now owns 10,027 shares of the information technology services provider's stock valued at $10,630,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday. Evercore ISI lifted their target price on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday. Morgan Stanley increased their price target on ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research report on Thursday. BMO Capital Markets decreased their price objective on ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, JMP Securities reiterated a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,035.39.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 2,511 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,384,373.88. This represents a 36.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction on Monday, February 10th. The stock was 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 directly owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $121.99 during mid-day trading on Thursday, hitting $934.69. The stock had a trading volume of 4,129,156 shares, compared to its average volume of 1,917,412. The firm has a market cap of $193.48 billion, a PE 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. The company has a 50 day moving average of $840.59 and a two-hundred day moving average of $967.11. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.09 billion. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has approved a stock repurchase program 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.