Vest Financial LLC Raises Stake in ServiceNow, Inc. $NOW

Key Points

• Vest Financial LLC increased its stake in ServiceNow, Inc. by 41.2% during the second quarter, owning a total of 2,972 shares valued at approximately $3.06 million.
• Insider transactions revealed that executives Jacqueline P. Canney and Nicholas Tzitzon sold a combined total of 3,281 shares of ServiceNow stock, reflecting significant decreases in their ownership stakes.
• Research analysts have mixed ratings for ServiceNow, with one analyst rating it as a Strong Buy while others have issued a Moderate Buy consensus and a target price of approximately $1,121.37.

Vest Financial LLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 41.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,972 shares of the information technology services provider's stock after buying an additional 867 shares during the period. Vest Financial LLC's holdings in ServiceNow were worth $3,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Haverford Trust Co boosted its position in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after buying an additional 10 shares during the last quarter. Ascent Group LLC boosted its position in ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock worth $1,628,000 after purchasing an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. boosted its position 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 worth $366,000 after purchasing an additional 11 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after purchasing an additional 11 shares in the last quarter. Finally, one8zero8 LLC boosted its position in ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 in the last quarter. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on NOW. Barclays set a $1,210.00 price objective on ServiceNow in a research report on Thursday, July 24th. Raymond James Financial upped their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Erste Group Bank restated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Wall Street Zen lowered ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, DA Davidson increased their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,121.37.

ServiceNow Stock Down 1.3%

NYSE NOW opened at $912.15 on Wednesday. The business has a fifty day moving average price of $909.39 and a 200 day moving average price of $933.73. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $189.73 billion, a P/E ratio of 114.88, a P/E/G ratio of 4.16 and a beta of 0.92.

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

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.

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