Bryn Mawr Trust Advisors LLC Takes Position in ServiceNow, Inc. $NOW

Bryn Mawr Trust Advisors LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,950 shares of the information technology services provider’s stock, valued at approximately $491,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Millstone Evans Group LLC increased its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new stake in ServiceNow during the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC boosted its position in ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares during the period. Finally, Wealth Watch Advisors INC boosted its position in ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 134 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of several research reports. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Canaccord Genuity Group reduced their target price on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Cantor Fitzgerald upped their price target on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. KeyCorp reissued an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Finally, UBS Group set a $248.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.76.

ServiceNow Trading Down 2.5%

Shares of ServiceNow stock opened at $124.08 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a 50-day moving average of $107.08 and a 200-day moving average of $105.80. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The stock has a market cap of $128.29 billion, a PE ratio of 77.55, a PEG ratio of 2.24 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current year.

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.