Brooklyn Investment Group Acquires 204 Shares of ServiceNow, Inc. (NYSE:NOW)

Brooklyn Investment Group lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 19.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,263 shares of the information technology services provider’s stock after purchasing an additional 204 shares during the period. Brooklyn Investment Group’s holdings in ServiceNow were worth $1,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quent Capital LLC grew its position in shares of ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after acquiring an additional 30 shares during the period. EntryPoint Capital LLC grew its holdings in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Silvercrest Asset Management Group LLC increased its position in ServiceNow by 31.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,859 shares of the information technology services provider’s stock worth $2,942,000 after buying an additional 931 shares during the last quarter. Redwood Investment Management LLC bought a new stake in shares of ServiceNow in the first quarter valued at $254,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at $25,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $1,052.82 on Tuesday. 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, Inc. has a 52-week low of $637.99 and a 52-week high of $1,068.88. The company has a fifty day moving average of $951.73 and a 200-day moving average of $838.61. The stock has a market capitalization of $216.88 billion, a price-to-earnings ratio of 163.74, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,787 shares of company stock worth $17,841,028 in the last ninety days. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOW. Robert W. Baird boosted their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. KeyCorp boosted their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Oppenheimer lifted their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus increased their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price target on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $989.07.

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.