Brown Shipley& Co Ltd Increases Stock Position in ServiceNow, Inc. $NOW

Brown Shipley& Co Ltd grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 388.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,214 shares of the information technology services provider’s stock after buying an additional 31,973 shares during the period. ServiceNow accounts for approximately 3.3% of Brown Shipley& Co Ltd’s holdings, making the stock its 12th biggest holding. Brown Shipley& Co Ltd’s holdings in ServiceNow were worth $6,160,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Brady Martz Wealth Solutions LLC grew its stake in shares of ServiceNow by 1.3% during the 3rd quarter. Brady Martz Wealth Solutions LLC now owns 842 shares of the information technology services provider’s stock valued at $775,000 after buying an additional 11 shares during the period. Magnus Financial Group LLC boosted its position in ServiceNow by 1.9% during the 3rd quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock worth $542,000 after purchasing an additional 11 shares during the period. Avidian Wealth Enterprises LLC boosted its position in ServiceNow by 2.5% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock worth $417,000 after purchasing an additional 11 shares during the period. Traveka Wealth LLC boosted its position in ServiceNow by 3.8% during the 3rd quarter. Traveka Wealth LLC now owns 330 shares of the information technology services provider’s stock worth $304,000 after purchasing an additional 12 shares during the period. Finally, Regatta Capital Group LLC boosted its position in ServiceNow by 1.9% during the 3rd quarter. Regatta Capital Group LLC now owns 633 shares of the information technology services provider’s stock worth $583,000 after purchasing an additional 12 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $155.00 price target on shares of ServiceNow in a research report on Thursday, February 5th. Macquarie Infrastructure decreased their price target on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Capital One Financial decreased their price target on shares of ServiceNow from $188.00 to $161.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. The Goldman Sachs Group set a $216.00 price target on shares of ServiceNow in a research report on Monday, February 2nd. Finally, Stifel Nicolaus decreased their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $188.59.

ServiceNow Stock Performance

NYSE:NOW opened at $102.46 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $109.76 and a two-hundred day moving average of $146.19. The stock has a market cap of $107.17 billion, a P/E ratio of 61.43, a PEG ratio of 1.71 and a beta of 1.01. ServiceNow, Inc. has a 1-year low of $98.00 and a 1-year high of $211.48.

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

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the transaction, the insider directly owned 26,314 shares of the company’s stock, valued at $2,781,652.94. This represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were 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 trade represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,237 shares of company stock valued at $1,697,162 in the last ninety days. Insiders own 0.34% of the company’s stock.

ServiceNow Profile

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.