Onyx Bridge Wealth Group LLC Buys New Shares in ServiceNow, Inc. (NYSE:NOW)

Onyx Bridge Wealth Group LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 547 shares of the information technology services provider’s stock, valued at approximately $386,000.

A number of other large investors have also added to or reduced their stakes in NOW. RB Capital Management LLC grew its holdings in ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock worth $531,000 after acquiring an additional 192 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in ServiceNow by 17.9% in the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 133 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after acquiring an additional 1,689 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after acquiring an additional 29 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of ServiceNow by 0.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after purchasing an additional 86 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

NOW stock traded down $17.45 during midday trading on Friday, reaching $713.91. 1,540,609 shares of the company’s stock traded hands, compared to its average volume of 874,337. The stock has a market cap of $146.62 billion, a P/E ratio of 84.89, a PEG ratio of 4.62 and a beta of 0.97. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The stock’s 50-day moving average is $764.19 and its 200 day moving average is $701.74. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. UBS Group raised their target price on shares of ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. The Goldman Sachs Group lifted their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Oppenheimer lifted their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Royal Bank of Canada lifted their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

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.