Braun Stacey Associates Inc. Has $31.24 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Braun Stacey Associates Inc. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,927 shares of the information technology services provider’s stock after selling 512 shares during the quarter. ServiceNow accounts for 1.2% of Braun Stacey Associates Inc.’s holdings, making the stock its 21st biggest holding. Braun Stacey Associates Inc.’s holdings in ServiceNow were worth $31,238,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Quent Capital LLC raised its position in shares of ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 30 shares during the last quarter. Edgestream Partners L.P. purchased a new position in ServiceNow in the first quarter worth $210,000. Davis R M Inc. raised its stake in shares of ServiceNow by 3.0% in the first quarter. Davis R M Inc. now owns 513 shares of the information technology services provider’s stock valued at $391,000 after buying an additional 15 shares during the period. Trustmark National Bank Trust Department raised its stake in shares of ServiceNow by 5.9% in the first quarter. Trustmark National Bank Trust Department now owns 1,007 shares of the information technology services provider’s stock valued at $768,000 after buying an additional 56 shares during the period. Finally, Bahl & Gaynor Inc. raised its stake in shares of ServiceNow by 71.9% in the first quarter. Bahl & Gaynor Inc. now owns 806 shares of the information technology services provider’s stock valued at $614,000 after buying an additional 337 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Evercore ISI upped their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC increased their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group upped their price target on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $974.04.

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares in the company, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,231 shares of company stock worth $4,947,292 over the last ninety days. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Performance

Shares of NOW opened at $1,011.39 on Monday. The company’s 50 day moving average price is $932.47 and its 200 day moving average price is $825.13. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,061.66. The company has a market capitalization of $208.35 billion, a PE ratio of 157.29, a PEG ratio of 5.80 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. Research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.