Blue Capital Inc. Acquires Shares of 3,100 ServiceNow, Inc. (NYSE:NOW)

Blue Capital Inc. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,100 shares of the information technology services provider's stock, valued at approximately $3,286,000. ServiceNow accounts for 2.3% of Blue Capital Inc.'s holdings, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new stake in ServiceNow in the 4th quarter worth about $48,802,000. Dock Street Asset Management Inc. raised its position in shares of ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after buying an additional 1,105 shares in the last quarter. Cardano Risk Management B.V. bought a new stake in shares of ServiceNow in the fourth quarter valued at approximately $105,090,000. Rheos Capital Works Inc. acquired a new stake in ServiceNow during the fourth quarter worth approximately $10,071,000. Finally, Czech National Bank increased its stake in ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock worth $47,486,000 after acquiring an additional 2,829 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Up 1.8 %

Shares of NOW stock traded up $17.72 during trading hours on Wednesday, hitting $982.98. 1,729,532 shares of the company were exchanged, compared to its average volume of 1,512,662. The company has a 50 day simple moving average of $840.96 and a two-hundred day simple moving average of $969.12. The firm has a market cap of $203.48 billion, a P/E ratio of 143.92, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm 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 business's revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.41 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOW. Sanford C. Bernstein reiterated an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. UBS Group reiterated a "buy" rating and set a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Guggenheim raised their target price on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a report on Thursday, April 24th. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group decreased their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,048.55.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,282 shares of the business's 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 transaction, the director now owns 40,638 shares in the company, valued at approximately $41,883,148.32. This trade represents a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,692 shares of company stock valued at $18,173,444. Company insiders own 0.38% of the company's stock.

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.