ServiceNow, Inc. $NOW Shares Sold by Brucke Financial Inc.

Brucke Financial Inc. decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 318 shares of the information technology services provider’s stock after selling 22 shares during the quarter. Brucke Financial Inc.’s holdings in ServiceNow were worth $327,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Haverford Trust Co lifted its holdings in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after purchasing an additional 10 shares during the period. Ascent Group LLC lifted its holdings in ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after purchasing an additional 10 shares during the period. Edgemoor Investment Advisors Inc. lifted its holdings in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after purchasing an additional 11 shares during the period. Integrated Investment Consultants LLC lifted its holdings in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC lifted its holdings in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. Guggenheim reaffirmed a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a report on Thursday, July 17th. Piper Sandler upped their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Jefferies Financial Group boosted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were 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 approximately $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $888.63 on Friday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm has a 50-day moving average of $909.21 and a two-hundred day moving average of $931.62. The firm has a market capitalization of $184.84 billion, a PE ratio of 111.92, a P/E/G ratio of 4.13 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

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.