ServiceNow, Inc. $NOW Shares Acquired by Vest Financial LLC

Vest Financial LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 41.2% in the second quarter, Holdings Channel reports. The fund owned 2,972 shares of the information technology services provider’s stock after purchasing an additional 867 shares during the period. Vest Financial LLC’s holdings in ServiceNow were worth $3,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC increased its position in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the 1st quarter worth about $26,000. WASHINGTON TRUST Co increased its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the 2nd quarter worth about $30,000. Finally, Dagco Inc. acquired a new stake in shares of ServiceNow during the 1st quarter worth about $33,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on NOW shares. Jefferies Financial Group raised their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. UBS Group dropped their target price on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,121.37.

Insiders Place Their Bets

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 1,562 shares of the business’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 value of $1,353,394.90. Following the sale, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,737 shares of company stock worth $16,798,825. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $912.15 on Wednesday. The stock has a 50-day simple moving average of $909.39 and a 200-day simple moving average of $933.73. 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 stock has a market capitalization of $189.73 billion, a PE ratio of 114.88, a PEG ratio of 4.16 and a beta of 0.92. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $3.13 EPS. On average, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share 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.