Bryn Mawr Capital Management LLC Lowers Stock Position in ServiceNow, Inc. (NYSE:NOW)

Bryn Mawr Capital Management LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,058 shares of the information technology services provider’s stock after selling 166 shares during the period. Bryn Mawr Capital Management LLC’s holdings in ServiceNow were worth $2,160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Motley Fool Asset Management LLC lifted its position in ServiceNow by 5.5% during the fourth quarter. Motley Fool Asset Management LLC now owns 6,151 shares of the information technology services provider’s stock valued at $4,346,000 after buying an additional 318 shares during the period. New Jersey Better Educational Savings Trust bought a new position in shares of ServiceNow during the fourth quarter valued at $208,000. Stevens Capital Management LP bought a new position in shares of ServiceNow during the fourth quarter valued at $883,000. Abbrea Capital LLC increased its holdings in shares of ServiceNow by 4.2% during the fourth quarter. Abbrea Capital LLC now owns 1,480 shares of the information technology services provider’s stock valued at $1,046,000 after acquiring an additional 60 shares in the last quarter. Finally, Syon Capital LLC increased its holdings in shares of ServiceNow by 51.7% during the fourth quarter. Syon Capital LLC now owns 810 shares of the information technology services provider’s stock valued at $572,000 after acquiring an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $6.69 during trading hours on Friday, reaching $722.94. 1,445,813 shares of the stock traded hands, compared to its average volume of 1,216,659. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $148.48 billion, a price-to-earnings ratio of 77.32, a P/E/G ratio of 4.72 and a beta of 0.97. The company has a 50 day moving average price of $759.21 and a 200 day moving average price of $707.90.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. KeyCorp reduced their price target on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday. Barclays raised their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. UBS Group reduced their price target on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday. BMO Capital Markets reduced their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Jefferies Financial Group lifted their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $782.85.

Insider Activity

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company 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.