Bridges Investment Management Inc. Sells 238 Shares of ServiceNow, Inc. $NOW

Bridges Investment Management Inc. lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 65,990 shares of the information technology services provider’s stock after selling 238 shares during the period. Bridges Investment Management Inc.’s holdings in ServiceNow were worth $67,843,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. acquired a new stake in ServiceNow during the 2nd quarter worth $30,000. Bogart Wealth LLC grew its holdings in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in ServiceNow during the 1st quarter worth $26,000. Richardson Financial Services Inc. grew its holdings in ServiceNow by 50.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock worth $33,000 after acquiring an additional 11 shares during the period. Finally, WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $902.22 on Thursday. The company has a fifty day moving average price of $909.21 and a 200 day moving average price of $933.51. The firm has a market cap of $187.66 billion, a PE ratio of 113.63, a PEG ratio of 4.10 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

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

Insiders Place Their Bets

In related news, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on NOW shares. Needham & Company LLC lifted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. DA Davidson lifted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. UBS Group decreased their price target on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,121.37.

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.