Wesbanco Bank Inc. Has $327,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Wesbanco Bank Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 40.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 366 shares of the information technology services provider’s stock after purchasing an additional 106 shares during the quarter. Wesbanco Bank Inc.’s holdings in ServiceNow were worth $327,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc boosted its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC acquired a new position in ServiceNow in the 2nd quarter worth about $32,000. Finally, TFC Financial Management Inc. raised its stake in shares of ServiceNow by 466.7% during the 1st quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 42 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW stock opened at $918.87 on Thursday. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59. The company has a market capitalization of $188.37 billion, a P/E ratio of 98.27, a P/E/G ratio of 5.63 and a beta of 0.99. The stock has a 50 day moving average of $869.98 and a two-hundred day moving average of $789.79. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NOW shares. Jefferies Financial Group boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Piper Sandler upped their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $887.73.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last three months. Company insiders own 0.25% 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.