Brady Martz Wealth Solutions LLC Takes $842,000 Position in ServiceNow, Inc. (NYSE:NOW)

Brady Martz Wealth Solutions LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 816 shares of the information technology services provider's stock, valued at approximately $842,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after buying an additional 17 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in ServiceNow in the second quarter worth $39,000. Oakworth Capital Inc. grew its stake in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after acquiring an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock valued at $46,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday. They issued an "overweight" rating and a $1,332.00 price target on the stock. Citigroup increased their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a "buy" rating in a report on Friday, October 25th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Finally, 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 note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,080.38.

Insider Activity

In other news, insider Jacqueline P. Canney sold 76 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Stock Performance

ServiceNow stock traded up $14.86 during midday trading on Monday, hitting $1,072.02. The stock had a trading volume of 1,079,535 shares, compared to its average volume of 944,889. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a market capitalization of $220.84 billion, a PE ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. The firm's fifty day moving average is $1,069.67 and its two-hundred day moving average is $933.26. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company's revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 7.07 EPS 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.