Grace & Mercy Foundation Inc. Has $26.82 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Grace & Mercy Foundation Inc. lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,300 shares of the information technology services provider’s stock after selling 400 shares during the period. ServiceNow accounts for 6.0% of Grace & Mercy Foundation Inc.’s portfolio, making the stock its 8th largest holding. Grace & Mercy Foundation Inc.’s holdings in ServiceNow were worth $26,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NOW. Quarry LP bought a new stake in ServiceNow during the fourth quarter valued at about $27,000. Atala Financial Inc bought a new stake in ServiceNow during the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the 4th quarter valued at approximately $32,000. FPC Investment Advisory Inc. increased its position in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

ServiceNow stock opened at $981.13 on Friday. The stock has a 50-day simple moving average of $844.85 and a 200 day simple moving average of $970.05. The stock has a market capitalization of $203.09 billion, a price-to-earnings ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The company’s revenue was up 18.6% on a year-over-year basis. On average, 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 initiated a share repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 17,150 shares of company stock valued at $16,550,424. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOW. Jefferies Financial Group lowered their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada raised their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Tuesday. BMO Capital Markets cut their price objective on shares of ServiceNow from $990.00 to $950.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Evercore ISI increased their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company boosted their price target on ServiceNow from $1,100.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,048.55.

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.