Murphy & Mullick Capital Management Corp Purchases Shares of 1,097 ServiceNow, Inc. (NYSE:NOW)

Murphy & Mullick Capital Management Corp acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,097 shares of the information technology services provider’s stock, valued at approximately $1,163,000. ServiceNow makes up about 1.1% of Murphy & Mullick Capital Management Corp’s holdings, making the stock its 20th biggest holding.

Several other large investors have also recently modified their holdings of NOW. Atala Financial Inc purchased a new stake in ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow during the fourth quarter valued at about $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $34,000. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter worth approximately $30,000. Finally, FPC Investment Advisory Inc. grew its position in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Redburn Atlantic initiated coverage on ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating for the company. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Finally, KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.31.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last quarter. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $860.50 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a fifty day moving average of $964.71 and a 200 day moving average of $985.75. The firm has a market cap of $177.26 billion, a PE ratio of 125.99, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.