Mirabella Financial Services LLP Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Mirabella Financial Services LLP boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 17.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,590 shares of the information technology services provider’s stock after purchasing an additional 972 shares during the quarter. Mirabella Financial Services LLP’s holdings in ServiceNow were worth $5,715,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc boosted its holdings in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. Truvestments Capital LLC acquired a new stake in ServiceNow during the third quarter worth about $30,000. Finally, Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOW. Evercore ISI boosted their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Barclays upped their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Mizuho raised their price objective on ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $989.07.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $1,068.00 on Monday. The firm has a market cap of $220.01 billion, a PE ratio of 164.95, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,068.00. The firm’s 50-day simple moving average is $948.53 and its 200-day simple moving average is $836.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,787 shares of company stock valued at $17,841,028. 0.25% of the stock is currently owned by insiders.

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.