TFR Capital LLC. Acquires Shares of 498 ServiceNow, Inc. (NYSE:NOW)

TFR Capital LLC. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 498 shares of the information technology services provider’s stock, valued at approximately $528,000.

Other institutional investors have also bought and sold shares of the company. Quarry LP bought a new position in ServiceNow during the fourth quarter valued at $27,000. Atala Financial Inc bought a new position in ServiceNow during the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the 4th quarter worth about $32,000. Noble Wealth Management PBC bought a new stake in shares of ServiceNow in the 4th quarter worth about $34,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of 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 last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.0%

NYSE:NOW opened at $1,005.53 on Tuesday. The company’s 50 day moving average is $884.98 and its two-hundred day moving average is $974.97. The company has a market cap of $208.13 billion, a PE ratio of 147.22, a P/E/G ratio of 4.51 and a beta of 0.97. 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 twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for 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 for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 EPS. Analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. Royal Bank of Canada raised their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,048.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Canaccord Genuity Group lowered their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Piper Sandler decreased their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

Insider Activity

In related news, insider Jacqueline P. Canney sold 354 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director now owns 3,205 shares of the company’s stock, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,674 shares of company stock valued at $2,510,213 in the last ninety days. Insiders own 0.38% of the company’s stock.

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.