Evermay Wealth Management LLC Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Evermay Wealth Management LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 29.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 791 shares of the information technology services provider’s stock after purchasing an additional 178 shares during the quarter. Evermay Wealth Management LLC’s holdings in ServiceNow were worth $707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Valeo Financial Advisors LLC boosted its holdings in ServiceNow by 6.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,997 shares of the information technology services provider’s stock worth $1,523,000 after buying an additional 127 shares during the period. E&G Advisors LP bought a new stake in shares of ServiceNow during the first quarter valued at approximately $217,000. Valley National Advisers Inc. grew its stake in ServiceNow by 28.2% in the first quarter. Valley National Advisers Inc. now owns 978 shares of the information technology services provider’s stock worth $745,000 after purchasing an additional 215 shares in the last quarter. Kovack Advisors Inc. increased its holdings in ServiceNow by 18.8% during the 1st quarter. Kovack Advisors Inc. now owns 7,754 shares of the information technology services provider’s stock worth $5,912,000 after purchasing an additional 1,226 shares during the period. Finally, First Trust Direct Indexing L.P. grew its position in shares of ServiceNow by 9.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,964 shares of the information technology services provider’s stock worth $3,785,000 after buying an additional 415 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.6 %

Shares of ServiceNow stock traded up $5.31 during trading hours on Wednesday, reaching $958.39. 89,663 shares of the company were exchanged, compared to its average volume of 1,282,311. The firm has a market cap of $197.43 billion, a PE ratio of 148.21, a PEG ratio of 5.67 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 1 year low of $564.90 and a 1 year high of $979.78. The stock’s fifty day moving average is $890.11 and its 200 day moving average is $800.19.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the company earned $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock worth $4,450,447 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on NOW shares. Truist Financial upped their target price on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Needham & Company LLC upped their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho boosted their price objective on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Piper Sandler lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $970.33.

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.