Bridges Investment Management Inc. Sells 961 Shares of ServiceNow, Inc. (NYSE:NOW)

Bridges Investment Management Inc. reduced its position in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,134 shares of the information technology services provider’s stock after selling 961 shares during the quarter. Bridges Investment Management Inc.’s holdings in ServiceNow were worth $31,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in ServiceNow by 8.9% during the 4th quarter. Venturi Wealth Management LLC now owns 1,575 shares of the information technology services provider’s stock valued at $1,113,000 after purchasing an additional 129 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of ServiceNow by 781.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 335 shares of the information technology services provider’s stock worth $236,000 after acquiring an additional 297 shares in the last quarter. Webster Bank N. A. increased its stake in shares of ServiceNow by 4.8% in the 4th quarter. Webster Bank N. A. now owns 3,445 shares of the information technology services provider’s stock worth $2,434,000 after acquiring an additional 157 shares in the last quarter. Independence Bank of Kentucky bought a new position in shares of ServiceNow in the 4th quarter worth about $65,000. Finally, Colonial River Wealth Management LLC bought a new position in shares of ServiceNow in the 4th quarter worth about $218,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NOW stock opened at $772.25 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. The business has a 50-day moving average price of $770.47 and a 200 day moving average price of $686.12. The company has a market capitalization of $158.31 billion, a P/E ratio of 90.27, a PEG ratio of 4.82 and a beta of 0.97.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. TheStreet raised shares of ServiceNow from a “c+” rating to a “b-” rating in a report on Friday, December 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Mizuho raised their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, KeyCorp began coverage on shares of ServiceNow in a report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target on the stock. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $762.96.

Read Our Latest Report on NOW

Insider Activity

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

ServiceNow Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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