YHB Investment Advisors Inc. Boosts Stake in ServiceNow, Inc. $NOW

YHB Investment Advisors Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,661 shares of the information technology services provider’s stock after acquiring an additional 264 shares during the period. YHB Investment Advisors Inc.’s holdings in ServiceNow were worth $5,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Guided Capital Wealth Management LLC increased its position in shares of ServiceNow by 0.5% in the 2nd quarter. Guided Capital Wealth Management LLC now owns 3,999 shares of the information technology services provider’s stock valued at $4,111,000 after acquiring an additional 20 shares during the period. Baker Tilly Wealth Management LLC increased its position in shares of ServiceNow by 8.4% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 362 shares of the information technology services provider’s stock valued at $372,000 after acquiring an additional 28 shares during the period. Exchange Traded Concepts LLC increased its position in shares of ServiceNow by 113.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 42,873 shares of the information technology services provider’s stock valued at $44,077,000 after acquiring an additional 22,828 shares during the period. Fulton Bank N.A. increased its position in shares of ServiceNow by 22.1% in the 2nd quarter. Fulton Bank N.A. now owns 2,352 shares of the information technology services provider’s stock valued at $2,418,000 after acquiring an additional 426 shares during the period. Finally, Family Legacy Financial Solutions LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at $116,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Down 0.4%

NOW stock opened at $946.77 on Friday. The firm has a market cap of $196.93 billion, a P/E ratio of 119.24, a PEG ratio of 4.28 and a beta of 0.91. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company’s 50-day simple moving average is $922.08 and its 200-day simple moving average is $922.99. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company posted $3.13 EPS. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares in the company, valued at $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock worth $17,049,775 in the last three months. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler increased their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Raymond James Financial increased their price target 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. UBS Group cut their price target on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,115.20.

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.