Bryn Mawr Trust Advisors LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,950 shares of the information technology services provider’s stock, valued at approximately $491,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Wealth Watch Advisors INC bought a new position in ServiceNow in the third quarter valued at approximately $29,000. Kelleher Financial Advisors bought a new stake in ServiceNow during the third quarter worth $50,000. Pin Oak Investment Advisors Inc. lifted its stake in ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 23 shares during the last quarter. Jupiter Wealth Management LLC acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $154,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at ServiceNow
In other news, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.34% of the company’s stock.
ServiceNow Trading Down 2.5%
ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, sell-side analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.
Analysts Set New Price Targets
NOW has been the subject of a number of research analyst reports. Benchmark reissued a “buy” rating on shares of ServiceNow in a report on Friday, July 17th. Argus reduced their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $140.00 target price (up from $135.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Evercore reissued an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.76.
View Our Latest Stock Analysis on NOW
ServiceNow Profile
ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
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