Bridgewater Advisors Inc. Invests $4.02 Million in ServiceNow, Inc. $NOW

Bridgewater Advisors Inc. purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,229 shares of the information technology services provider's stock, valued at approximately $4,023,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Watch Advisors INC acquired a new position in ServiceNow during the third quarter valued at approximately $29,000. Kelleher Financial Advisors acquired a new position in shares of ServiceNow during the 3rd quarter worth $50,000. Pin Oak Investment Advisors Inc. lifted its position in shares of ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider's stock worth $123,000 after buying an additional 23 shares during the last quarter. Jupiter Wealth Management LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at approximately $154,000. Finally, CBIZ Investment Advisory Services LLC increased its position in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $124.08 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The firm has a market cap of $128.29 billion, a PE ratio of 77.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94. The firm's fifty day moving average is $107.08 and its 200-day moving average is $105.80.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow's quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. Sell-side analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. DA Davidson set a $170.00 price objective on shares of ServiceNow and gave the company a "buy" rating in a research note on Monday, July 20th. UBS Group set a $248.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Argus dropped their price target on ServiceNow from $180.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Citizens Jmp reissued a "market outperform" rating and set a $157.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Piper Sandler restated an "overweight" rating and set a $140.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $143.76.

Insider Buying and Selling

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.34% of the company's stock.

About ServiceNow

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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