ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Brasada Capital Management LP

Brasada Capital Management LP boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,837 shares of the information technology services provider’s stock after acquiring an additional 61 shares during the period. Brasada Capital Management LP’s holdings in ServiceNow were worth $2,874,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. Sepio Capital LP lifted its stake in ServiceNow by 7.8% in the 4th quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after buying an additional 85 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of ServiceNow by 88.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 696 shares of the information technology services provider’s stock valued at $492,000 after acquiring an additional 326 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ServiceNow by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 231,144 shares of the information technology services provider’s stock valued at $163,300,000 after acquiring an additional 6,370 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of ServiceNow by 17.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,486 shares of the information technology services provider’s stock worth $2,463,000 after acquiring an additional 508 shares during the last quarter. Finally, First United Bank & Trust purchased a new stake in shares of ServiceNow during the fourth quarter worth approximately $71,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOW. JPMorgan Chase & Co. raised their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Truist Financial raised their price target on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. BMO Capital Markets increased their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $849.62.

ServiceNow Stock Up 0.5 %

Shares of NYSE:NOW opened at $860.04 on Wednesday. The business has a 50-day moving average price of $801.98 and a 200 day moving average price of $764.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $177.17 billion, a price-to-earnings ratio of 91.98, a PEG ratio of 4.95 and a beta of 0.98. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $866.45.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by insiders.

ServiceNow 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.