Berger Financial Group Inc Sells 30 Shares of ServiceNow, Inc. $NOW

Berger Financial Group Inc cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 11.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231 shares of the information technology services provider’s stock after selling 30 shares during the period. Berger Financial Group Inc’s holdings in ServiceNow were worth $237,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ServiceNow by 7.1% in the first 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 worth $2,263,519,000 after purchasing an additional 188,292 shares during the last quarter. Nuveen LLC bought a new stake in ServiceNow in the 1st quarter worth approximately $1,817,535,000. Alliancebernstein L.P. raised its stake 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 buying an additional 242,132 shares during the last quarter. Finally, Amundi lifted its holdings in shares of 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 buying an additional 626,623 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.1%

Shares of NOW stock opened at $913.27 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a fifty day simple moving average of $913.22 and a two-hundred day simple moving average of $931.27. The firm has a market capitalization of $189.96 billion, a PE ratio of 115.02, a PEG ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the business posted $3.13 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. BMO Capital Markets boosted their target price 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. Needham & Company LLC upped their target price 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. Finally, Jefferies Financial Group raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

Insider Transactions at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by corporate 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.