JBF Capital Inc. Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

JBF Capital Inc. purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,204 shares of the information technology services provider’s stock, valued at approximately $3,397,000. ServiceNow accounts for approximately 0.6% of JBF Capital Inc.’s portfolio, making the stock its 21st biggest holding.

Several other institutional investors have also modified their holdings of NOW. Mirabella Financial Services LLP raised its stake in ServiceNow by 35.6% during the 4th quarter. Mirabella Financial Services LLP now owns 8,939 shares of the information technology services provider’s stock valued at $9,470,000 after acquiring an additional 2,349 shares in the last quarter. Mirova increased its holdings in shares of ServiceNow by 2.7% during the fourth quarter. Mirova now owns 5,748 shares of the information technology services provider’s stock valued at $6,094,000 after purchasing an additional 149 shares during the period. MML Investors Services LLC raised its stake in shares of ServiceNow by 1.9% during the fourth quarter. MML Investors Services LLC now owns 55,889 shares of the information technology services provider’s stock valued at $59,249,000 after purchasing an additional 1,061 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in ServiceNow by 1.0% in the fourth quarter. MetLife Investment Management LLC now owns 63,569 shares of the information technology services provider’s stock worth $67,391,000 after purchasing an additional 660 shares during the period. Finally, Natixis grew its position in ServiceNow by 1,524.4% in the 4th quarter. Natixis now owns 155,892 shares of the information technology services provider’s stock valued at $165,264,000 after buying an additional 146,295 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW stock opened at $772.18 on Friday. The stock has a market cap of $159.84 billion, a P/E ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08. 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 50 day simple moving average of $852.94 and a 200 day simple moving average of $970.14. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share buyback plan 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 buy up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,435,554.47. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey A. Miller sold 2,282 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the transaction, the director now owns 40,638 shares in the company, valued at $41,883,148.32. This represents a 5.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,250 shares of company stock worth $19,853,273 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Jefferies Financial Group lowered their price target on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. The Goldman Sachs Group cut their price objective on ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Guggenheim reaffirmed a “sell” rating and set a $716.00 target price on shares of ServiceNow in a report on Wednesday. Finally, Robert W. Baird dropped their price target on shares of ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,057.17.

Read Our Latest Stock Report on NOW

About ServiceNow

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Free Report).