Bridges Investment Management Inc. Has $72.05 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Bridges Investment Management Inc. decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,966 shares of the information technology services provider’s stock after selling 3,922 shares during the quarter. ServiceNow comprises approximately 1.0% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Bridges Investment Management Inc.’s holdings in ServiceNow were worth $72,052,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NOW. Strategic Blueprint LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $241,000. Financial Advocates Investment Management boosted its stake in ServiceNow by 5.5% during the 3rd quarter. Financial Advocates Investment Management now owns 556 shares of the information technology services provider’s stock worth $497,000 after acquiring an additional 29 shares during the last quarter. Hills Bank & Trust Co bought a new position in ServiceNow during the 3rd quarter worth approximately $182,000. EMC Capital Management boosted its stake in ServiceNow by 1,663.1% during the 3rd quarter. EMC Capital Management now owns 20,276 shares of the information technology services provider’s stock worth $18,135,000 after acquiring an additional 19,126 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its stake in ServiceNow by 14.4% during the 3rd quarter. Weatherly Asset Management L. P. now owns 7,556 shares of the information technology services provider’s stock worth $6,758,000 after acquiring an additional 951 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 over the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $929.56 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a market cap of $191.49 billion, a P/E ratio of 136.10, a P/E/G ratio of 4.51 and a beta of 0.99. The firm’s fifty day moving average price is $1,038.07 and its two-hundred day moving average price is $982.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

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

ServiceNow announced that its board has authorized a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Guggenheim reissued a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. Truist Financial lifted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.