Bridge Generations Wealth Management LLC Invests $1.47 Million in ServiceNow, Inc. (NYSE:NOW)

Bridge Generations Wealth Management LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,842 shares of the information technology services provider's stock, valued at approximately $1,466,000. ServiceNow makes up approximately 0.9% of Bridge Generations Wealth Management LLC's portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. GAMMA Investing LLC raised its holdings in ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Norges Bank bought a new position in ServiceNow in the fourth quarter worth $2,603,360,000. Price T Rowe Associates Inc. MD raised its holdings in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ServiceNow by 36.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after purchasing an additional 491,861 shares in the last quarter. Finally, Cohen Investment Advisors LLC raised its holdings in ServiceNow by 7,971.1% in the first quarter. Cohen Investment Advisors LLC now owns 353,597 shares of the information technology services provider's stock worth $281,513,000 after purchasing an additional 349,216 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded down $30.97 on Friday, hitting $937.12. The stock had a trading volume of 2,144,933 shares, compared to its average volume of 1,486,117. The stock has a market cap of $193.97 billion, a price-to-earnings ratio of 127.33, a price-to-earnings-growth ratio of 4.31 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The business's 50-day simple moving average is $1,008.08 and its two-hundred day simple moving average is $959.58. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the firm posted $3.41 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,955 shares of company stock valued at $6,862,195. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NOW shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,048.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Mizuho raised their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Jefferies Financial Group reduced their price target on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, BMO Capital Markets raised their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,068.23.

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.