Brucke Financial Inc. Has $327,000 Stake in ServiceNow, Inc. $NOW

Brucke Financial Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 318 shares of the information technology services provider’s stock after selling 22 shares during the period. Brucke Financial Inc.’s holdings in ServiceNow were worth $327,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in ServiceNow in the first quarter worth approximately $382,000. Corient IA LLC acquired a new position in ServiceNow in the first quarter worth approximately $796,000. Parr Mcknight Wealth Management Group LLC acquired a new position in ServiceNow in the first quarter worth approximately $1,820,000. Goldman Sachs Group Inc. increased its holdings in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in ServiceNow in the first quarter worth approximately $19,278,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. Bank of America increased their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Piper Sandler increased their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, UBS Group reduced their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,830,614.32. This represents a 28.16% 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 ninety days. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 3.2%

NOW opened at $888.63 on Friday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. 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 capitalization of $184.84 billion, a price-to-earnings ratio of 111.92, a P/E/G ratio of 4.13 and a beta of 0.92. The business has a 50 day moving average of $909.21 and a 200-day moving average of $931.62.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the business earned $3.13 earnings per share. ServiceNow’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.