Brown Financial Advisors Has $1.06 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Brown Financial Advisors lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 34.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,189 shares of the information technology services provider's stock after selling 616 shares during the quarter. Brown Financial Advisors' holdings in ServiceNow were worth $1,063,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. raised its stake in shares of ServiceNow by 65.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,915 shares of the information technology services provider's stock valued at $5,647,000 after acquiring an additional 2,342 shares in the last quarter. RB Capital Management LLC raised its position in shares of ServiceNow by 1.8% in the third quarter. RB Capital Management LLC now owns 1,223 shares of the information technology services provider's stock valued at $1,094,000 after purchasing an additional 22 shares during the period. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider's stock worth $3,753,828,000 after buying an additional 78,378 shares during the last quarter. Resources Management Corp CT ADV boosted its holdings in shares of ServiceNow by 1.6% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,286 shares of the information technology services provider's stock worth $1,150,000 after buying an additional 20 shares during the period. Finally, Abel Hall LLC grew its stake in ServiceNow by 4.9% in the 3rd quarter. Abel Hall LLC now owns 281 shares of the information technology services provider's stock valued at $251,000 after buying an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JMP Securities upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a "market outperform" rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on ServiceNow from $900.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price target on ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Mizuho raised their price objective on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Finally, Piper Sandler upped their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,022.37.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 66 shares of the company's stock in a transaction dated 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 owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NOW stock traded up $23.06 during trading hours on Wednesday, reaching $1,150.90. 558,350 shares of the company were exchanged, compared to its average volume of 1,278,899. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $237.09 billion, a price-to-earnings ratio of 178.42, a P/E/G ratio of 6.45 and a beta of 0.99. The stock's fifty day moving average is $992.26 and its two-hundred day moving average is $864.29. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90.

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 analysts' consensus estimates of $3.46 by $0.26. The firm 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%. The business's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. Sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.