Wedmont Private Capital Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Wedmont Private Capital lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 7.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,500 shares of the information technology services provider’s stock after acquiring an additional 170 shares during the quarter. Wedmont Private Capital’s holdings in ServiceNow were worth $2,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Catalyst Financial Partners LLC increased its position in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network boosted its stake in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares in the last quarter. BluePointe Capital Management LLC raised its position in shares of ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after buying an additional 12 shares during the last quarter. Finally, CX Institutional lifted its stake in shares of ServiceNow by 1.2% during the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after buying an additional 13 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. Oppenheimer lifted their target price on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Evercore ISI lifted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen increased their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, JMP Securities increased their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

ServiceNow Stock Down 2.0 %

NYSE:NOW traded down $20.74 on Monday, reaching $1,003.83. The stock had a trading volume of 893,021 shares, compared to its average volume of 1,102,026. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The stock has a market cap of $206.79 billion, a P/E ratio of 156.12, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $1,064.01 and a 200 day moving average of $924.13.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. On average, research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In related news, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. The trade was a 16.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is currently owned by insiders.

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.