Bridges Investment Management Inc. Cuts Holdings in ServiceNow, Inc. (NYSE:NOW)

Bridges Investment Management Inc. lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,888 shares of the information technology services provider’s stock after selling 5,248 shares during the quarter. Bridges Investment Management Inc.’s holdings in ServiceNow were worth $64,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares during the last quarter. Swedbank AB lifted its position in ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after purchasing an additional 120,983 shares during the period. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in ServiceNow by 21.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after purchasing an additional 168,734 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,343 shares of company stock worth $2,791,181 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Down 0.7 %

ServiceNow stock opened at $1,008.08 on Friday. ServiceNow, Inc. has a 1-year low of $615.54 and a 1-year high of $1,024.44. The stock has a market cap of $207.66 billion, a PE ratio of 156.78, a P/E/G ratio of 5.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day moving average is $912.56 and its two-hundred day moving average is $812.60.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the company posted $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Sanford C. Bernstein lifted their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price target on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Barclays upped their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Mizuho lifted their price target on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

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.