Wedmont Private Capital increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,761 shares of the information technology services provider's stock after purchasing an additional 261 shares during the period. Wedmont Private Capital's holdings in ServiceNow were worth $2,169,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in shares of ServiceNow by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after acquiring an additional 12,533 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the 4th quarter valued at about $48,802,000. FMR LLC grew its position in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Duncker Streett & Co. Inc. increased its stake in shares of ServiceNow by 4.8% in the fourth quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider's stock valued at $6,759,000 after purchasing an additional 290 shares during the period. Finally, Nicholas Investment Partners LP raised its holdings in shares of ServiceNow by 223.5% during the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock valued at $2,974,000 after buying an additional 1,938 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on NOW. Guggenheim raised their target price on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Canaccord Genuity Group cut their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Bank of America reduced their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada raised their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Barclays set a $1,085.00 price target on shares of ServiceNow in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.
Check Out Our Latest Research Report on ServiceNow
ServiceNow Trading Up 1.3%
ServiceNow stock opened at $1,030.70 on Friday. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a 50 day moving average price of $919.44 and a 200 day moving average price of $974.63.
ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow's revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.
Insider Transactions at ServiceNow
In other news, General Counsel Russell S. Elmer sold 191 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $188,135.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,267,020. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 over the last three months. 0.38% of the stock is owned by corporate insiders.
ServiceNow Company Profile
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Free Report)
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.
Further Reading
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