Stonebrook Private Inc. Grows Position in ServiceNow, Inc. (NYSE:NOW)

Stonebrook Private Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 531 shares of the information technology services provider’s stock after purchasing an additional 16 shares during the quarter. Stonebrook Private Inc.’s holdings in ServiceNow were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NOW. Avidian Wealth Enterprises LLC raised its holdings in shares of ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after acquiring an additional 9 shares in the last quarter. Institute for Wealth Management LLC. raised its holdings in shares of ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after acquiring an additional 11 shares in the last quarter. TBH Global Asset Management LLC raised its holdings in shares of ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after acquiring an additional 11 shares in the last quarter. Onefund LLC raised its holdings in shares of ServiceNow by 2.0% during the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after acquiring an additional 11 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its holdings in shares of ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 11 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 384 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total value of $378,869.76. Following the completion of the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,525,636.96. This trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,096,621. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,872 shares of company stock worth $13,261,400. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NOW shares. Redburn Atlantic started coverage on ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $1,050.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. Jefferies Financial Group cut their target price on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada boosted their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

ServiceNow Price Performance

Shares of NOW stock opened at $1,040.22 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market capitalization of $215.33 billion, a price-to-earnings ratio of 152.30, a P/E/G ratio of 4.51 and a beta of 0.97. The stock has a fifty day simple moving average of $863.52 and a two-hundred day simple moving average of $973.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.41 EPS. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.