Compass Capital Corp MA ADV Takes Position in ServiceNow, Inc. (NYSE:NOW)

Compass Capital Corp MA ADV acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,315 shares of the information technology services provider’s stock, valued at approximately $1,475,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Centricity Wealth Management LLC acquired a new position in ServiceNow during the 4th quarter worth approximately $82,000. Trinity Legacy Partners LLC increased its position in ServiceNow by 3.0% in the 4th quarter. Trinity Legacy Partners LLC now owns 6,506 shares of the information technology services provider’s stock valued at $6,897,000 after acquiring an additional 191 shares during the period. Prakash Investment Advisors LLC acquired a new position in ServiceNow in the 4th quarter valued at approximately $2,872,000. ING Groep NV increased its position in ServiceNow by 17.1% in the 4th quarter. ING Groep NV now owns 46,311 shares of the information technology services provider’s stock valued at $49,095,000 after acquiring an additional 6,760 shares during the period. Finally, Zullo Investment Group Inc. increased its position in ServiceNow by 7.9% in the 4th quarter. Zullo Investment Group Inc. now owns 898 shares of the information technology services provider’s stock valued at $952,000 after acquiring an additional 66 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,806 shares of company stock worth $16,065,122 over the last quarter. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $968.19 on Friday. The firm has a 50-day moving average of $1,058.36 and a 200-day moving average of $976.01. The company has a market cap of $199.45 billion, a P/E ratio of 141.76, a P/E/G ratio of 4.60 and a beta of 0.99. 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 one year low of $637.99 and a one year high of $1,198.09.

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

ServiceNow announced that its board has initiated a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Scotiabank initiated coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Finally, TD Cowen upped their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

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.