Bragg Financial Advisors Inc Acquires Shares of 1,532 ServiceNow, Inc. $NOW

Key Points

• Bragg Financial Advisors Inc acquired 1,532 shares of ServiceNow, Inc. for approximately $1,219,000 during the first quarter.
• ServiceNow's stock has seen significant analyst activity, with multiple upgrades resulting in a consensus target price of $1,115.20 and an overall rating of "Moderate Buy."
• Insider trading was notable, with Vice Chairman Nicholas Tzitzon selling 1,719 shares, indicating a 36.43% decrease in their ownership.

Bragg Financial Advisors Inc purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,532 shares of the information technology services provider's stock, valued at approximately $1,219,000.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in ServiceNow during the fourth quarter worth about $27,000. Bogart Wealth LLC increased its stake in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in ServiceNow in the 1st quarter worth about $26,000. Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter worth about $37,000. Finally, WASHINGTON TRUST Co increased its stake in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. Mizuho raised their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Barclays set a $1,210.00 price objective on ServiceNow in a research note on Thursday, July 24th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and lifted their price target for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

ServiceNow Stock Up 1.0%

Shares of NYSE:NOW traded up $8.8230 during trading on Friday, hitting $885.7930. 1,083,474 shares of the company's stock traded hands, compared to its average volume of 1,866,238. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $184.24 billion, a price-to-earnings ratio of 111.56, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a 50-day moving average price of $955.00 and a 200-day moving average price of $929.03.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow's quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the company earned $3.13 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,096 shares of company stock valued at $14,807,562 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Company 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.