Brookwood Investment Group LLC Sells 297 Shares of ServiceNow, Inc. $NOW

Brookwood Investment Group LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 35.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 534 shares of the information technology services provider’s stock after selling 297 shares during the period. Brookwood Investment Group LLC’s holdings in ServiceNow were worth $549,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in ServiceNow by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after purchasing an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ServiceNow by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after purchasing an additional 188,292 shares during the last quarter. Nuveen LLC bought a new position in ServiceNow during the 1st quarter valued at about $1,817,535,000. Alliancebernstein L.P. grew its holdings in ServiceNow by 16.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after purchasing an additional 242,132 shares during the last quarter. Finally, Amundi grew its holdings in ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after purchasing an additional 626,623 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares of the company’s stock, valued at approximately $409,037.85. This represents a 76.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,980 shares of company stock worth $16,049,017. Insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $947.33 on Tuesday. The company has a 50 day moving average price of $918.98 and a 200-day moving average price of $944.11. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $197.05 billion, a PE ratio of 119.31, a PEG ratio of 4.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Analysts Set New Price Targets

Several brokerages recently commented on NOW. Needham & Company LLC upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Raymond James Financial boosted their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Piper Sandler boosted their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, DA Davidson boosted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,124.17.

About ServiceNow

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.