Legacy Bridge LLC Has $939,000 Position in ServiceNow, Inc. (NYSE:NOW)

Legacy Bridge LLC increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4,100.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,050 shares of the information technology services provider's stock after acquiring an additional 1,025 shares during the period. Legacy Bridge LLC's holdings in ServiceNow were worth $939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. Avidian Wealth Enterprises LLC grew its stake in ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after acquiring an additional 138 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock valued at $2,565,000 after buying an additional 765 shares during the last quarter. AXA S.A. boosted its position in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider's stock valued at $304,712,000 after buying an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new position in ServiceNow during the second quarter valued at $2,679,000. Finally, Brookstone Capital Management grew its holdings in ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider's stock worth $10,595,000 after acquiring an additional 2,928 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.3 %

Shares of NYSE:NOW traded up $2.78 during trading on Tuesday, reaching $1,008.12. 793,419 shares of the company traded hands, compared to its average volume of 1,281,055. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year 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. The firm has a market cap of $207.67 billion, a P/E ratio of 156.35, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. The firm has a fifty day simple moving average of $935.45 and a 200 day simple moving average of $827.30.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts' consensus estimates of $3.46 by $0.26. The business 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%. ServiceNow's revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. Analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on ServiceNow from $875.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Piper Sandler upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. UBS Group lifted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Needham & Company LLC increased their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, BMO Capital Markets lifted their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $986.39.

Insider Activity

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,231 shares of company stock valued at $4,947,292. 0.25% of the stock is owned by insiders.

ServiceNow 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.