Bradley Foster & Sargent Inc. CT Acquires New Stake in ServiceNow, Inc. (NYSE:NOW)

Bradley Foster & Sargent Inc. CT bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 326 shares of the information technology services provider’s stock, valued at approximately $256,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Swedbank AB acquired a new stake in shares of ServiceNow during the first quarter worth $897,908,000. Global Assets Advisory LLC acquired a new stake in ServiceNow during the 1st quarter worth about $403,034,000. Vanguard Group Inc. raised its position in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of ServiceNow in the 2nd quarter valued at about $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on 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 transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last ninety days. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 2.0 %

NYSE:NOW opened at $937.36 on Friday. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $940.12. The firm has a 50-day moving average price of $822.56 and a two-hundred day moving average price of $771.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $192.16 billion, a price-to-earnings ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler lifted their target price on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird increased their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. Finally, Royal Bank of Canada increased their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.