Broderick Brian C Has $1.27 Million Stake in ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Broderick Brian C increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 100.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,200 shares of the information technology services provider’s stock after buying an additional 600 shares during the quarter. Broderick Brian C’s holdings in ServiceNow were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Landscape Capital Management L.L.C. lifted its holdings in shares of ServiceNow by 353.5% during the 4th quarter. Landscape Capital Management L.L.C. now owns 1,891 shares of the information technology services provider’s stock valued at $2,005,000 after buying an additional 1,474 shares during the last quarter. PAX Financial Group LLC grew its holdings in ServiceNow by 21.0% during the fourth quarter. PAX Financial Group LLC now owns 658 shares of the information technology services provider’s stock valued at $698,000 after purchasing an additional 114 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in ServiceNow by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 3,458 shares of the information technology services provider’s stock worth $3,665,000 after acquiring an additional 38 shares during the period. Proem Advisors LLC acquired a new position in shares of ServiceNow during the 4th quarter worth about $3,079,000. Finally, Uniting Wealth Partners LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at approximately $2,120,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOW shares. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group lowered their price objective on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. The Goldman Sachs Group upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Robert W. Baird dropped their price target on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,087.21.

Read Our Latest Stock Report on ServiceNow

ServiceNow Stock Performance

Shares of NOW opened at $773.53 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $159.35 billion, a price-to-earnings ratio of 113.25, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The stock’s 50-day simple moving average is $925.88 and its 200 day simple moving average is $981.19.

ServiceNow (NYSE:NOW – Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Profile

(Free Report)

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.

Further Reading

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