Wedmont Private Capital Has $2.17 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Wedmont Private Capital grew its position in ServiceNow, Inc. (NYSE:NOW) by 10.4% during the first quarter, HoldingsChannel reports. The firm owned 2,761 shares of the information technology services provider’s stock after buying an additional 261 shares during the quarter. Wedmont Private Capital’s holdings in ServiceNow were worth $2,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NOW. Janus Henderson Group PLC lifted its position in ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after acquiring an additional 12,533 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in ServiceNow in the 4th quarter worth approximately $48,802,000. FMR LLC lifted its holdings in shares of ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after buying an additional 272,506 shares during the last quarter. Duncker Streett & Co. Inc. boosted its position 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 acquiring an additional 290 shares during the period. Finally, Nicholas Investment Partners LP grew its stake in shares of ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock worth $2,974,000 after acquiring an additional 1,938 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on NOW. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Citigroup upped their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Evercore ISI increased their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Redburn Atlantic began coverage on ServiceNow in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, Robert W. Baird upped their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,062.50.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider now owns 3,000 shares of the company’s stock, valued at approximately $3,060,000. This represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 6,614 shares of the company’s stock, valued at $6,693,434.14. This trade 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 in the last three months. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Trading Up 1.3%

Shares of NOW stock opened at $1,030.70 on Friday. The company has a market capitalization of $213.34 billion, a P/E ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $919.44 and a 200 day moving average price of $974.63.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow Company 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.