Bradley Foster & Sargent Inc. CT Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Bradley Foster & Sargent Inc. CT boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 160.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,133 shares of the information technology services provider’s stock after buying an additional 1,932 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in ServiceNow were worth $3,321,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NOW. Arcadia Investment Management Corp MI boosted its stake in shares of ServiceNow by 2.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 13,600 shares of the information technology services provider’s stock worth $14,418,000 after acquiring an additional 277 shares during the last quarter. Compass Capital Corp MA ADV purchased a new position in ServiceNow in the 4th quarter valued at $1,475,000. Centricity Wealth Management LLC purchased a new position in ServiceNow in the 4th quarter valued at $82,000. Trinity Legacy Partners LLC boosted its stake in ServiceNow by 3.0% during the 4th quarter. Trinity Legacy Partners LLC now owns 6,506 shares of the information technology services provider’s stock worth $6,897,000 after purchasing an additional 191 shares during the last quarter. Finally, Prakash Investment Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $2,872,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,806 shares of company stock worth $16,065,122 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of several research reports. Truist Financial raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company boosted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Needham & Company LLC increased their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Redburn Atlantic assumed coverage on ServiceNow in a research note on Wednesday. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group upped their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Stock Performance

NYSE:NOW opened at $937.79 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $193.18 billion, a price-to-earnings ratio of 137.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99. The firm’s fifty day moving average price is $1,054.69 and its 200 day moving average price is $977.09. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has authorized a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

ServiceNow Company 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.