ServiceNow, Inc. $NOW Shares Bought by Bfsg LLC

Key Points

• Bfsg LLC significantly increased its stake in ServiceNow, Inc. by 2,589.5%, now owning 1,022 shares valued at approximately $1,051,000.
• ServiceNow's recent earnings report showed an EPS of $4.09, exceeding analyst expectations of $3.57, with a revenue growth of 22.4% year-over-year.
• Recent insider trading includes Vice Chairman Nicholas Tzitzon selling 1,719 shares for $1,489,427, marking a 36.43% decrease in their holdings.

Bfsg LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2,589.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,022 shares of the information technology services provider's stock after purchasing an additional 984 shares during the period. Bfsg LLC's holdings in ServiceNow were worth $1,051,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of ServiceNow during the first quarter valued at $382,000. Corient IA LLC acquired a new position in shares of ServiceNow during the first quarter valued at $796,000. Parr Mcknight Wealth Management Group LLC bought a new position in ServiceNow during the first quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. bought a new position in ServiceNow during the first quarter valued at about $19,278,000. Finally, Goldman Sachs Group Inc. boosted its stake in ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after buying an additional 840,731 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the sale, the director owned 9,307 shares of the company's stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Down 2.1%

Shares of NYSE NOW opened at $928.34 on Wednesday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm has a market capitalization of $193.09 billion, a PE ratio of 116.92, a PEG ratio of 4.27 and a beta of 0.91. 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 business has a 50-day moving average price of $921.75 and a two-hundred day moving average price of $924.54.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company posted $3.13 EPS. The business's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, analysts predict 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 several research reports. Morgan Stanley reaffirmed an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. Raymond James Financial raised their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Guggenheim reaffirmed a "sell" rating and set a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

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.

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