Bryn Mawr Capital Management LLC Purchases 412 Shares of ServiceNow, Inc. (NYSE:NOW)

Bryn Mawr Capital Management LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 27.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,907 shares of the information technology services provider’s stock after buying an additional 412 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in ServiceNow were worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $2,603,360,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of ServiceNow by 1,586.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock valued at $742,965,000 after purchasing an additional 877,875 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of ServiceNow by 36.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider’s stock valued at $1,940,464,000 after purchasing an additional 491,861 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 0.5%

ServiceNow stock opened at $957.31 on Wednesday. The company has a market cap of $198.14 billion, a P/E ratio of 130.07, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a fifty day simple moving average of $1,007.54 and a 200 day simple moving average of $957.77. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the firm posted $3.41 EPS. The company’s quarterly revenue was up 18.6% on a year-over-year basis. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. Royal Bank Of Canada increased their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Piper Sandler cut their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Oppenheimer restated an “outperform” rating and issued a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Sunday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,068.23.

Insider Buying and Selling

In other news, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares of the company’s stock, valued at $2,985,842.10. This trade represents a 19.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deborah Black sold 598 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the sale, the director owned 428 shares of the company’s stock, valued at approximately $402,418.44. This represents a 58.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,601 shares of company stock worth $6,577,363. Corporate insiders own 0.38% of the company’s stock.

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.