Brooklyn Investment Group Acquires 72 Shares of ServiceNow, Inc. (NYSE:NOW)

Brooklyn Investment Group boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,335 shares of the information technology services provider’s stock after buying an additional 72 shares during the quarter. Brooklyn Investment Group’s holdings in ServiceNow were worth $1,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in ServiceNow by 2.6% during the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after buying an additional 226,023 shares during the period. FMR LLC boosted its stake in ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after buying an additional 502,845 shares during the period. World Investment Advisors LLC boosted its stake in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the period. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NOW opened at $1,072.02 on Friday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. 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 company has a market cap of $220.84 billion, a P/E ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The firm’s 50-day moving average price is $1,068.39 and its 200-day moving average price is $929.31.

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

Insider Activity at ServiceNow

In related 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 value of $76,831.44. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Truist Financial boosted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Piper Sandler boosted 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. Finally, The Goldman Sachs Group boosted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,080.38.

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.