Brasada Capital Management LP Acquires 135 Shares of ServiceNow, Inc. (NYSE:NOW)

Brasada Capital Management LP lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,139 shares of the information technology services provider’s stock after buying an additional 135 shares during the period. Brasada Capital Management LP’s holdings in ServiceNow were worth $4,204,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,435,554.47. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,250 shares of company stock valued at $19,853,273 over the last ninety days. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOW. Barclays decreased their price target on ServiceNow from $1,200.00 to $967.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their target price on ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, BMO Capital Markets decreased their target price on shares of ServiceNow from $990.00 to $950.00 and set an “outperform” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.43.

ServiceNow Trading Up 1.4 %

NYSE:NOW opened at $766.53 on Wednesday. The firm has a fifty day simple moving average of $843.99 and a two-hundred day simple moving average of $968.16. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market capitalization of $158.67 billion, a price-to-earnings ratio of 112.23, a PEG ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors 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.