Mmbg Investment Advisors CO. Purchases 21,991 Shares of ServiceNow, Inc. $NOW

Mmbg Investment Advisors CO. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 885.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,475 shares of the information technology services provider’s stock after purchasing an additional 21,991 shares during the period. Mmbg Investment Advisors CO.’s holdings in ServiceNow were worth $3,749,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Meridian Wealth Advisors LLC boosted its holdings in ServiceNow by 2.2% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after purchasing an additional 12 shares during the period. Valley Brook Capital Group Inc. raised its stake in shares of ServiceNow by 2.1% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock valued at $583,000 after buying an additional 13 shares in the last quarter. Catalyst Financial Partners LLC raised its stake in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after buying an additional 13 shares in the last quarter. JT Stratford LLC raised its stake in shares of ServiceNow by 3.5% in the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after buying an additional 13 shares in the last quarter. Finally, Abbot Financial Management Inc. raised its stake in shares of ServiceNow by 2.9% in the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider’s stock valued at $462,000 after buying an additional 14 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 0.0%

Shares of NYSE NOW opened at $102.13 on Tuesday. The firm’s 50-day moving average is $98.53 and its 200-day moving average is $125.20. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The firm has a market capitalization of $105.29 billion, a PE ratio of 60.86, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the firm earned $0.81 EPS. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

Insider Activity

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last quarter. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. BTIG Research restated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Monday, May 4th. Argus dropped their target price on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. DA Davidson reiterated a “buy” rating and set a $190.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, UBS Group set a $150.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.