May Hill Capital LLC Takes $270,000 Position in ServiceNow, Inc. (NYSE:NOW)

May Hill Capital LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 255 shares of the information technology services provider’s stock, valued at approximately $270,000.

Several other institutional investors have also recently bought and sold shares of the business. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $34,000. FPC Investment Advisory Inc. lifted 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 worth $34,000 after buying an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at $37,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was 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 of the company’s stock, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,351 shares of company stock worth $20,050,076. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group cut their price target on 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. Redburn Atlantic assumed coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Piper Sandler boosted 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 note on Monday, January 6th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,088.59.

ServiceNow Trading Up 1.8 %

Shares of NYSE:NOW opened at $810.61 on Wednesday. The stock has a market capitalization of $166.99 billion, a PE ratio of 118.68, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The company’s 50-day moving average price is $939.07 and its two-hundred day moving average price is $983.75. 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 one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting 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 analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has approved a share buyback 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 usually an indication that the company’s board of directors believes its stock is 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.