Wedmont Private Capital Acquires 57 Shares of ServiceNow, Inc. (NYSE:NOW)

Wedmont Private Capital increased its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 917 shares of the information technology services provider’s stock after purchasing an additional 57 shares during the period. Wedmont Private Capital’s holdings in ServiceNow were worth $336,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its holdings in ServiceNow by 18.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 8,059 shares of the information technology services provider’s stock worth $3,129,000 after purchasing an additional 1,230 shares in the last quarter. Spence Asset Management lifted its position in ServiceNow by 1.3% during the 4th quarter. Spence Asset Management now owns 34,573 shares of the information technology services provider’s stock worth $13,424,000 after acquiring an additional 442 shares during the last quarter. General Partner Inc. acquired a new position in ServiceNow during the 4th quarter worth $82,000. Fulton Bank N.A. lifted its position in ServiceNow by 13.5% during the 4th quarter. Fulton Bank N.A. now owns 1,501 shares of the information technology services provider’s stock worth $583,000 after acquiring an additional 179 shares during the last quarter. Finally, Sycomore Asset Management lifted its position in ServiceNow by 24.5% during the 4th quarter. Sycomore Asset Management now owns 7,221 shares of the information technology services provider’s stock worth $2,757,000 after acquiring an additional 1,420 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 90 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $464.59, for a total transaction of $41,813.10. Following the sale, the director now directly owns 10,461 shares of the company’s stock, valued at $4,860,075.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Paul Edward Chamberlain sold 90 shares of the stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $464.59, for a total transaction of $41,813.10. Following the sale, the director now directly owns 10,461 shares of the company’s stock, valued at $4,860,075.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 2,483 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $455.03, for a total transaction of $1,129,831.05. Following the sale, the chief executive officer now directly owns 53,117 shares in the company, valued at $24,169,647.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,016 shares of company stock valued at $28,805,543. 0.28% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $441.00 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $89.52 billion, a price-to-earnings ratio of 275.63, a P/E/G ratio of 5.66 and a beta of 1.03. ServiceNow, Inc. has a 1-year low of $337.00 and a 1-year high of $601.62. The firm’s 50-day moving average price is $439.00 and its two-hundred day moving average price is $412.18.

ServiceNow (NYSE:NOW – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.28. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. ServiceNow had a net margin of 4.49% and a return on equity of 9.37%. On average, equities analysts predict that ServiceNow, Inc. will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on NOW. Robert W. Baird cut their target price on shares of ServiceNow from $500.00 to $475.00 in a research report on Wednesday, December 21st. Wolfe Research boosted their target price on shares of ServiceNow from $500.00 to $510.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft cut their target price on shares of ServiceNow from $625.00 to $525.00 and set a “buy” rating for the company in a research report on Monday, January 23rd. Wells Fargo & Company boosted their target price on shares of ServiceNow from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. Finally, Oppenheimer upped their price objective on shares of ServiceNow from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $517.47.

ServiceNow Company Profile

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.