MRP Capital Investments LLC Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

MRP Capital Investments LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 705 shares of the information technology services provider’s stock after buying an additional 30 shares during the period. MRP Capital Investments LLC’s holdings in ServiceNow were worth $747,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Atala Financial Inc acquired a new stake in ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the 4th quarter valued at about $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the 4th quarter valued at about $34,000. Truvestments Capital LLC purchased a new position in ServiceNow during the 3rd quarter valued at about $30,000. Finally, FPC Investment Advisory Inc. grew its holdings in shares of ServiceNow by 725.0% during the fourth 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. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James began coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and set a $1,275.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. TD Cowen upped their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Scotiabank dropped their target price on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a report on Monday. Finally, KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,100.31.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow 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 value of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $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. Over the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by insiders.

ServiceNow Trading Down 2.5 %

Shares of NYSE:NOW opened at $823.35 on Friday. The stock has a 50 day moving average of $975.24 and a 200 day moving average of $983.49. 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 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a market cap of $169.61 billion, a PE ratio of 120.55, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a stock 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About ServiceNow

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.