Brown Financial Advisors Sells 616 Shares of ServiceNow, Inc. (NYSE:NOW)

Brown Financial Advisors cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 34.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,189 shares of the information technology services provider’s stock after selling 616 shares during the period. Brown Financial Advisors’ holdings in ServiceNow were worth $1,063,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC grew its holdings in shares of ServiceNow by 2.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 1,057 shares of the information technology services provider’s stock worth $832,000 after purchasing an additional 21 shares during the last quarter. ORG Partners LLC increased its stake in shares of ServiceNow by 1,623.8% in the 2nd quarter. ORG Partners LLC now owns 724 shares of the information technology services provider’s stock worth $571,000 after acquiring an additional 682 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in ServiceNow by 4.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 453 shares of the information technology services provider’s stock valued at $356,000 after acquiring an additional 19 shares during the period. 180 Wealth Advisors LLC grew its holdings in ServiceNow by 4.2% in the second quarter. 180 Wealth Advisors LLC now owns 1,277 shares of the information technology services provider’s stock worth $957,000 after purchasing an additional 51 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its stake in shares of ServiceNow by 55.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,337 shares of the information technology services provider’s stock valued at $1,047,000 after purchasing an additional 477 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NOW shares. TD Cowen boosted their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday. JMP Securities increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Truist Financial lifted their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Evercore ISI lifted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,022.37.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now directly owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock worth $20,861,626 over the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

NYSE NOW opened at $1,128.51 on Wednesday. The business’s fifty day moving average is $987.03 and its 200 day moving average is $861.55. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,147.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $232.47 billion, a PE ratio of 175.51, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.