Brown Financial Advisors Takes $1.42 Million Position in ServiceNow, Inc. (NYSE:NOW)

Brown Financial Advisors acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,805 shares of the information technology services provider’s stock, valued at approximately $1,420,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at about $25,000. Versant Capital Management Inc boosted its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow during the fourth quarter worth approximately $29,000. EntryPoint Capital LLC boosted its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in ServiceNow during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,914 shares of company stock worth $5,608,936. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $867.34 on Wednesday. The business has a fifty day moving average of $842.39 and a two-hundred day moving average of $777.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $177.80 billion, a price-to-earnings ratio of 92.76, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $945.46.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates 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 business posted $0.77 earnings per share. As a group, research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent analyst reports. Citigroup increased their price target on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. BMO Capital Markets increased their price target on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. TD Cowen increased their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Piper Sandler increased their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $855.44.

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.