Broderick Brian C Invests $537,000 in ServiceNow, Inc. (NYSE:NOW)

Broderick Brian C purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 600 shares of the information technology services provider's stock, valued at approximately $537,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC acquired a new position in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc lifted its position in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at $32,000. Finally, DT Investment Partners LLC raised its holdings in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insiders Place Their Bets

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,325 shares of company stock valued at $5,024,928. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOW. Oppenheimer lifted their target price on ServiceNow from $825.00 to $1,020.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on ServiceNow from $820.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. JMP Securities raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a "market outperform" rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $974.04.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $29.07 during midday trading on Friday, hitting $1,010.73. 900,119 shares of the company's stock were exchanged, compared to its average volume of 1,278,437. The company's 50 day moving average price is $928.75 and its 200 day moving average price is $821.23. The firm has a market capitalization of $208.21 billion, a PE ratio of 159.03, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow's revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal 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.