Broderick Brian C Boosts Position in ServiceNow, Inc. (NYSE:NOW)

Broderick Brian C lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,200 shares of the information technology services provider's stock after acquiring an additional 600 shares during the period. Broderick Brian C's holdings in ServiceNow were worth $1,272,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after buying an additional 9 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in shares of ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after purchasing an additional 10 shares during the period. Institute for Wealth Management LLC. boosted its stake in shares of ServiceNow by 0.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after purchasing an additional 11 shares in the last quarter. TBH Global Asset Management LLC increased its holdings in shares of ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after acquiring an additional 11 shares during the period. Finally, Onefund LLC raised its position in shares of ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after acquiring an additional 11 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have commented on NOW. UBS Group decreased their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Piper Sandler raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Canaccord Genuity Group reiterated a "buy" rating and set a $1,275.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. Raymond James assumed coverage on ServiceNow in a research report on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,048.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus target price of $1,086.00.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The shares were 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 in the company, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

NOW traded down $53.38 during trading on Friday, reaching $720.69. The company's stock had a trading volume of 2,897,689 shares, compared to its average volume of 1,435,445. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $917.80 and a two-hundred day simple moving average of $980.64. The company has a market cap of $148.46 billion, a price-to-earnings ratio of 105.52, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a share buyback plan 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.