Brucke Financial Inc. Makes New $320,000 Investment in ServiceNow, Inc. (NYSE:NOW)

Brucke Financial Inc. acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 314 shares of the information technology services provider's stock, valued at approximately $320,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP acquired a new stake in shares of ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc bought a new position in ServiceNow in the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow in the 4th quarter worth $32,000. FPC Investment Advisory Inc. raised its holdings in ServiceNow by 725.0% in the 4th 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 period. Finally, Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter worth $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Down 0.5%

NOW traded down $4.72 on Thursday, reaching $1,016.58. The company's stock had a trading volume of 884,108 shares, compared to its average volume of 1,522,233. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $892.91 and a two-hundred day moving average of $975.64. The company has a market capitalization of $210.41 billion, a price-to-earnings ratio of 148.67, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company posted $3.41 EPS. The company's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,096,621. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the sale, the director now owns 3,205 shares of the company's stock, valued at $2,985,842.10. The trade was a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,674 shares of company stock worth $2,510,213. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NOW. JPMorgan Chase & Co. dropped their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Erste Group Bank raised shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Jefferies Financial Group lowered their target price on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. BMO Capital Markets increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, William Blair reiterated an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow 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.