ServiceNow, Inc. $NOW Shares Sold by Bridge Generations Wealth Management LLC

Bridge Generations Wealth Management LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,689 shares of the information technology services provider’s stock after selling 153 shares during the quarter. ServiceNow comprises approximately 1.1% of Bridge Generations Wealth Management LLC’s portfolio, making the stock its 22nd biggest position. Bridge Generations Wealth Management LLC’s holdings in ServiceNow were worth $1,736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. acquired a new position in ServiceNow in the second quarter valued at approximately $30,000. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the first quarter valued at approximately $26,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares in the last quarter. Finally, Dagco Inc. acquired a new position in ServiceNow in the first quarter valued at approximately $33,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOW shares. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. Piper Sandler increased their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. BMO Capital Markets increased their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. FBN Securities raised ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. Finally, UBS Group decreased their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Price Performance

Shares of NYSE NOW opened at $920.51 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a fifty day moving average price of $918.47 and a 200 day moving average price of $928.42. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a market cap of $191.47 billion, a PE ratio of 115.93, a P/E/G ratio of 4.24 and a beta of 0.91.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.13 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares of the company’s stock, valued at $2,622,744.15. The trade was a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,976 shares of company stock valued at $17,049,775 in the last three months. Insiders own 0.38% of the company’s stock.

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.