ServiceNow, Inc. (NYSE:NOW) Position Boosted by Legacy Bridge LLC

Legacy Bridge LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 4,100.0% in the third quarter, Holdings Channel.com reports. The firm owned 1,050 shares of the information technology services provider’s stock after acquiring an additional 1,025 shares during the quarter. Legacy Bridge LLC’s holdings in ServiceNow were worth $939,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Quent Capital LLC grew its holdings in shares of ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after acquiring an additional 30 shares in the last quarter. Edgestream Partners L.P. acquired a new position in ServiceNow in the 1st quarter worth about $210,000. Bahl & Gaynor Inc. raised its stake in shares of ServiceNow by 71.9% during the 1st quarter. Bahl & Gaynor Inc. now owns 806 shares of the information technology services provider’s stock worth $614,000 after purchasing an additional 337 shares in the last quarter. Seven Eight Capital LP lifted its holdings in shares of ServiceNow by 9.4% during the 1st quarter. Seven Eight Capital LP now owns 1,222 shares of the information technology services provider’s stock valued at $932,000 after buying an additional 105 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in ServiceNow by 97.2% in the first quarter. Lake Street Advisors Group LLC now owns 2,021 shares of the information technology services provider’s stock valued at $1,540,000 after acquiring an additional 996 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE NOW opened at $1,004.53 on Tuesday. The stock has a market cap of $206.93 billion, a P/E ratio of 156.23, a PEG ratio of 5.80 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The company’s 50-day simple moving average is $935.45 and its 200 day simple moving average is $827.30.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 EPS. As a group, research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of several analyst reports. Canaccord Genuity Group increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Mizuho raised their target price on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. KeyCorp boosted their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $900.00 to $960.00 in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $974.04.

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,231 shares of company stock valued at $4,947,292. 0.25% of the stock is currently owned by company insiders.

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.