Vest Financial LLC Boosts Position in ServiceNow, Inc. (NYSE:NOW)

Vest Financial LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 205.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 994 shares of the information technology services provider’s stock after buying an additional 669 shares during the period. Vest Financial LLC’s holdings in ServiceNow were worth $889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% during the 2nd 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 period. EntryPoint Capital LLC raised its holdings in shares of ServiceNow by 3,900.0% in the 1st 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 purchased a new stake in shares of ServiceNow in the 2nd quarter worth approximately $32,000. Finally, Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow during the second quarter valued at approximately $39,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NOW shares. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Wells Fargo & Company upped their price objective on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their target price on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Mizuho raised their price target on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $923.00.

ServiceNow Stock Down 0.4 %

NYSE:NOW opened at $918.34 on Tuesday. The firm has a market capitalization of $188.26 billion, a P/E ratio of 98.22, a PEG ratio of 5.63 and a beta of 0.99. The company’s fifty day moving average price is $876.85 and its 200-day moving average price is $793.35. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $949.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,267 shares of company stock valued at $5,935,447. 0.25% of the stock is owned by company insiders.

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.