ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 160.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,133 shares of the information technology services provider’s stock after acquiring an additional 1,932 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in ServiceNow were worth $3,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in ServiceNow in the 3rd quarter valued at approximately $30,000. Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter worth $37,000. Stonebridge Financial Group LLC purchased a new stake in shares of ServiceNow in the fourth quarter valued at $37,000. Bank of Jackson Hole Trust acquired a new stake in shares of ServiceNow during the fourth quarter valued at $40,000. Finally, DT Investment Partners LLC raised its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Scotiabank initiated coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target on the stock. JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Cantor Fitzgerald began coverage on ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target for the company. Canaccord Genuity Group raised their price objective on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Price Performance

NOW stock opened at $937.79 on Friday. The firm has a market cap of $193.18 billion, a P/E ratio of 137.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a 50-day simple moving average of $1,054.69 and a 200-day simple moving average of $977.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,806 shares of company stock worth $16,065,122 in the last quarter. 0.25% of the stock is owned by corporate insiders.

About ServiceNow

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.