Chesley Taft & Associates LLC Has $3.56 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Chesley Taft & Associates LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 11.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,465 shares of the information technology services provider’s stock after purchasing an additional 452 shares during the period. Chesley Taft & Associates LLC’s holdings in ServiceNow were worth $3,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC raised its position in shares of ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after acquiring an additional 9 shares during the last quarter. TBH Global Asset Management LLC lifted its stake in ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock valued at $320,000 after buying an additional 11 shares in the last quarter. Onefund LLC boosted its stake in ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after purchasing an additional 11 shares during the period. Cassady Schiller Wealth Management LLC lifted its holdings in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 11 shares in the last quarter. Finally, Valley Brook Capital Group Inc. boosted its position in ServiceNow by 2.7% during the 4th quarter. Valley Brook Capital Group Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 12 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 248 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the transaction, the director now owns 10,643 shares of the company’s stock, valued at approximately $10,740,277.02. This trade represents a 2.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,716 shares of company stock worth $6,611,245. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Up 0.1%

Shares of NOW opened at $1,012.25 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $209.52 billion, a price-to-earnings ratio of 148.21, a PEG ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 52 week low of $676.19 and a 52 week high of $1,198.09. The stock has a fifty day moving average of $910.63 and a 200-day moving average of $974.82.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Erste Group Bank upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 30th. Stifel Nicolaus lifted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Wall Street Zen raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Sunday. Robert W. Baird raised their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, TD Securities reiterated a “buy” rating and set a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

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.