Fulton Breakefield Broenniman LLC Has $5.94 Million Stock Position in ServiceNow, Inc. $NOW

Fulton Breakefield Broenniman LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 221.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,770 shares of the information technology services provider’s stock after acquiring an additional 26,724 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in ServiceNow were worth $5,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Cohen Klingenstein LLC lifted its stake in ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock valued at $1,532,000 after buying an additional 8,000 shares during the period. Focus Financial Network Inc. lifted its stake in ServiceNow by 286.1% in the fourth quarter. Focus Financial Network Inc. now owns 53,650 shares of the information technology services provider’s stock valued at $8,219,000 after buying an additional 39,756 shares during the period. Brookstone Capital Management lifted its stake in ServiceNow by 428.0% in the fourth quarter. Brookstone Capital Management now owns 91,158 shares of the information technology services provider’s stock valued at $13,964,000 after buying an additional 73,894 shares during the period. Beacon Investment Advisory Services Inc. raised its position in shares of ServiceNow by 299.4% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 49,283 shares of the information technology services provider’s stock worth $7,550,000 after purchasing an additional 36,944 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its position in shares of ServiceNow by 428.0% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 11,610 shares of the information technology services provider’s stock worth $1,779,000 after purchasing an additional 9,411 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the sale, the director owned 46,430 shares in the company, valued at approximately $4,697,323.10. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 3,696 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the sale, the insider owned 8,061 shares of the company’s stock, valued at $820,367.97. This trade represents a 31.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,237 shares of company stock worth $1,697,162. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NOW shares. Deutsche Bank Aktiengesellschaft set a $180.00 target price on ServiceNow in a research report on Thursday, January 29th. DA Davidson reaffirmed a “buy” rating and set a $220.00 target price on shares of ServiceNow in a research report on Thursday, January 29th. Wells Fargo & Company lowered their target price on ServiceNow from $225.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. The Goldman Sachs Group set a $216.00 target price on ServiceNow in a research report on Monday, February 2nd. Finally, Mizuho lowered their target price on ServiceNow from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $188.59.

ServiceNow Trading Up 0.5%

Shares of ServiceNow stock opened at $102.46 on Tuesday. The stock has a fifty day simple moving average of $109.76 and a 200 day simple moving average of $146.19. ServiceNow, Inc. has a 12-month low of $98.00 and a 12-month high of $211.48. The company has a market capitalization of $107.17 billion, a P/E ratio of 61.43, a price-to-earnings-growth ratio of 1.71 and a beta of 1.01. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. ServiceNow’s revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.