Venturi Wealth Management LLC Has $2.97 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Venturi Wealth Management LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,725 shares of the information technology services provider's stock after purchasing an additional 271 shares during the period. Venturi Wealth Management LLC's holdings in ServiceNow were worth $2,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NOW. Edgemoor Investment Advisors Inc. raised its holdings in ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after acquiring an additional 11 shares in the last quarter. Capital Investment Advisory Services LLC raised its holdings in ServiceNow by 2.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after acquiring an additional 12 shares in the last quarter. Kesler Norman & Wride LLC raised its holdings in ServiceNow by 1.2% in the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after acquiring an additional 13 shares in the last quarter. Sepio Capital LP raised its holdings in ServiceNow by 3.8% in the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after acquiring an additional 13 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. raised its holdings in ServiceNow by 0.5% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 2,392 shares of the information technology services provider's stock valued at $2,536,000 after acquiring an additional 13 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NOW shares. Oppenheimer reaffirmed an "outperform" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,200.00 price objective on shares of ServiceNow in a report on Thursday. Piper Sandler lifted their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday. Canaccord Genuity Group decreased their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Mizuho lifted their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,114.87.

ServiceNow Trading Down 2.8%

NOW traded down $28.13 during midday trading on Friday, hitting $968.05. 1,998,443 shares of the company were exchanged, compared to its average volume of 1,429,436. The firm has a market capitalization of $200.37 billion, a P/E ratio of 121.92, a P/E/G ratio of 4.56 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm's 50 day moving average price is $1,000.33 and its 200-day moving average price is $953.18. The company has a quick ratio of 1.12, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The business's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 EPS. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jonathan Chadwick sold 770 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the transaction, the director directly owned 3,205 shares of the company's stock, valued at $2,985,842.10. The trade was a 19.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares in the company, valued at $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,003 shares of company stock worth $6,015,106 over the last three months. Insiders own 0.38% 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.