Bearing Point Capital LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Bearing Point Capital LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 310 shares of the information technology services provider's stock, valued at approximately $329,000.

Several other institutional investors have also modified their holdings of the business. Quarry LP acquired a new position in ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new position in ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. increased its stake in 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 acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in ServiceNow in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % 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, Director Jeffrey A. Miller sold 2,282 shares of ServiceNow stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the sale, the director now directly owns 40,638 shares of the company's stock, valued at $41,883,148.32. The trade was a 5.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,692 shares of company stock worth $18,173,444 over the last 90 days. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Up 1.8 %

NOW stock traded up $17.72 during mid-day trading on Wednesday, reaching $982.98. The company had a trading volume of 1,729,532 shares, compared to its average volume of 1,512,662. The company has a market capitalization of $203.48 billion, a price-to-earnings ratio of 143.92, a PEG ratio of 4.51 and a beta of 0.97. 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 52 week low of $637.99 and a 52 week high of $1,198.09. The stock has a 50 day simple moving average of $840.96 and a two-hundred day simple moving average of $969.12.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has authorized a stock repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on NOW. Barclays set a $1,085.00 price target on ServiceNow in a report on Wednesday. Evercore ISI boosted their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Mizuho decreased their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Finally, TD Securities restated a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,048.55.

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.