Bradley Foster & Sargent Inc. CT Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Bradley Foster & Sargent Inc. CT acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent filing with the SEC. The fund acquired 326 shares of the information technology services provider’s stock, valued at approximately $256,000.

A number of other institutional investors have also added to or reduced their stakes in NOW. Morling Financial Advisors LLC raised its position in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares in the last quarter. Optas LLC raised its holdings in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares in the last quarter. Cedar Wealth Management LLC boosted its position in shares of ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after acquiring an additional 14 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of ServiceNow by 2.7% during the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 14 shares in the last quarter. Finally, Ndwm LLC increased its position in shares of ServiceNow by 0.6% in the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $937.36 on Friday. The business has a 50 day moving average of $822.56 and a 200 day moving average of $771.23. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $940.12. The company has a market cap of $192.16 billion, a PE ratio of 100.25, a P/E/G ratio of 5.25 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the company posted $0.77 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NOW shares. JPMorgan Chase & Co. boosted their price target on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Truist Financial upped their target price on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. BMO Capital Markets raised their price target on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $855.44.

About ServiceNow

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.