Brady Martz Wealth Solutions LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Brady Martz Wealth Solutions LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 816 shares of the information technology services provider’s stock, valued at approximately $842,000.

Other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in ServiceNow during the third quarter worth $30,000. DT Investment Partners LLC increased its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Semmax Financial Advisors Inc. acquired a new stake in ServiceNow during the 2nd quarter worth approximately $39,000. Oakworth Capital Inc. grew its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC increased its position in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,072.02 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $220.84 billion, a PE ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. The firm has a fifty day simple moving average of $1,069.67 and a 200 day simple moving average of $931.27. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the business earned $1.21 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $900.00 to $960.00 in a research report on Monday, October 21st. JMP Securities raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,080.38.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by company 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.