Newbridge Financial Services Group Inc. Increases Position in ServiceNow, Inc. $NOW

Key Points

• Newbridge Financial boosted its stake in ServiceNow by 660% in Q4, now holding 44,655 shares worth $6.84 million (1.1% of its portfolio and its 24th largest position).
• Insider selling has been notable recently — insiders sold 16,237 shares (≈$1.70M) in the last 90 days, including Paul Fipps (9,641 shares at $105.93) and director Paul Edward Chamberlain (1,500 shares at $101.17).
• ServiceNow beat Q4 expectations with EPS of $0.92 vs. $0.89 and revenue of $3.57B (+20.7% YoY); analysts hold a consensus "Moderate Buy" with an average target price of $188.59.

Newbridge Financial Services Group Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 660.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,655 shares of the information technology services provider's stock after purchasing an additional 38,779 shares during the period. ServiceNow comprises 1.1% of Newbridge Financial Services Group Inc.'s portfolio, making the stock its 24th largest holding. Newbridge Financial Services Group Inc.'s holdings in ServiceNow were worth $6,841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC increased its stake in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 18 shares in the last quarter. Noble Wealth Management PBC increased its stake in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 128 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth $26,000. Bogart Wealth LLC increased its stake in shares of ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 15 shares in the last quarter. Finally, Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow in the third quarter worth $29,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 9,641 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the completion of the transaction, the insider owned 11,757 shares in the company, valued at $1,245,419.01. This trade represents a 45.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the transaction, the director owned 46,430 shares of the company's stock, valued at $4,697,323.10. This trade represents a 3.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,237 shares of company stock worth $1,697,162 over the last 90 days. 0.34% of the stock is owned by insiders.

ServiceNow Stock Performance

NOW opened at $102.46 on Tuesday. The stock has a market capitalization of $107.17 billion, a price-to-earnings ratio of 61.43, a PEG ratio of 1.71 and a beta of 1.01. The company has a fifty day moving average of $109.76 and a 200 day moving average of $146.19. ServiceNow, Inc. has a fifty-two week low of $98.00 and a fifty-two week high of $211.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.53 billion. During the same period last year, the company posted $0.73 earnings per share. ServiceNow's quarterly revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. HSBC reduced their price objective on shares of ServiceNow from $266.40 to $226.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Citigroup raised their target price on shares of ServiceNow from $235.00 to $237.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Guggenheim raised shares of ServiceNow from a "sell" rating to a "neutral" rating in a research note on Tuesday, December 16th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Thursday, January 29th. Finally, UBS Group set a $115.00 target price on shares of ServiceNow in a research note on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $188.59.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.