Bryn Mawr Capital Management LLC Has $2.16 Million Position in ServiceNow, Inc. (NYSE:NOW)

Bryn Mawr Capital Management LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,058 shares of the information technology services provider’s stock after selling 166 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in ServiceNow were worth $2,160,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NOW. Impact Partnership Wealth LLC grew its stake in shares of ServiceNow by 672.7% in the third quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 74 shares in the last quarter. Galvin Gaustad & Stein LLC grew its stake in shares of ServiceNow by 33.3% in the third quarter. Galvin Gaustad & Stein LLC now owns 800 shares of the information technology services provider’s stock valued at $447,000 after acquiring an additional 200 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of ServiceNow in the third quarter valued at about $1,115,000. Asset Management One Co. Ltd. grew its stake in shares of ServiceNow by 4.9% in the third quarter. Asset Management One Co. Ltd. now owns 99,412 shares of the information technology services provider’s stock valued at $55,567,000 after acquiring an additional 4,630 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in ServiceNow by 3.3% during the third quarter. Handelsbanken Fonder AB now owns 59,360 shares of the information technology services provider’s stock worth $33,180,000 after buying an additional 1,904 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NOW shares. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Citigroup increased their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Oppenheimer increased their target price on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Wells Fargo & Company increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Finally, Mizuho increased their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $782.85.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Up 0.9 %

Shares of NOW stock traded up $6.69 during trading hours on Friday, hitting $722.94. 1,445,813 shares of the company were exchanged, compared to its average volume of 1,216,659. The company has a 50 day simple moving average of $759.21 and a two-hundred day simple moving average of $707.90. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $148.48 billion, a P/E ratio of 77.32, a P/E/G ratio of 4.72 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the firm posted $0.88 EPS. ServiceNow’s revenue was up 25.6% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

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.