1,097 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Murphy & Mullick Capital Management Corp

Murphy & Mullick Capital Management Corp purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,097 shares of the information technology services provider’s stock, valued at approximately $1,163,000. ServiceNow makes up about 1.1% of Murphy & Mullick Capital Management Corp’s investment portfolio, making the stock its 20th biggest position.

A number of other hedge funds have also modified their holdings of the company. Atala Financial Inc purchased a new stake in shares of ServiceNow during the fourth quarter worth about $28,000. Truvestments Capital LLC purchased a new position in ServiceNow in the 3rd quarter worth approximately $30,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow in the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $34,000. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 336 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,408,026.60. The trade was a 7.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Guggenheim reaffirmed a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. TD Cowen raised their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Jefferies Financial Group decreased their target price on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Oppenheimer increased their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,048.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.31.

ServiceNow Trading Up 1.3 %

Shares of NOW opened at $860.50 on Wednesday. The firm has a market capitalization of $177.26 billion, a price-to-earnings ratio of 125.99, a PEG ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a 50-day moving average of $964.71 and a 200 day moving average of $985.75.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management 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.