Three Bridge Wealth Advisors LLC Acquires New Holdings in ServiceNow, Inc. $NOW

Key Points

• Three Bridge Wealth Advisors LLC has acquired a new stake in ServiceNow, Inc., purchasing 496 shares valued at approximately $510,000 during the second quarter.
• ServiceNow reported quarterly earnings of $4.09 EPS, exceeding the consensus estimate by $0.52 and achieving a revenue of $3.22 billion, a 22.4% increase from the previous year.
• Insider transactions included notable sales by Director Anita M. Sands and CEO William R. McDermott, with Sands selling shares worth around $1 million and McDermott selling approximately $5.34 million in shares.

Three Bridge Wealth Advisors LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 496 shares of the information technology services provider's stock, valued at approximately $510,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Haverford Trust Co raised its stake in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after buying an additional 10 shares during the last quarter. Ascent Group LLC raised its stake in ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock valued at $1,628,000 after buying an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. raised its stake in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after buying an additional 11 shares during the last quarter. Finally, one8zero8 LLC raised its stake in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after buying an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 0.2%

Shares of NOW stock opened at $911.75 on Friday. The stock has a 50 day moving average of $914.67 and a 200 day moving average of $929.93. 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 stock has a market cap of $189.64 billion, a P/E ratio of 114.83, a P/E/G ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NOW shares. UBS Group decreased their price target on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. DA Davidson increased their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,122.20.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the firm's stock in a transaction that occurred on 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 directly owned 9,307 shares of the company's stock, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 in the last 90 days. Corporate insiders own 0.38% of the company's stock.

ServiceNow 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.

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