Everhart Financial Group Inc. Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Everhart Financial Group Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 54.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,784 shares of the information technology services provider’s stock after acquiring an additional 627 shares during the period. Everhart Financial Group Inc.’s holdings in ServiceNow were worth $1,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the 1st quarter valued at approximately $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of ServiceNow during the 2nd quarter valued at approximately $32,000. Finally, DT Investment Partners LLC boosted its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,539 shares of company stock worth $2,138,333 over the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen raised their price target on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. KeyCorp raised their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC raised their price target on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Truist Financial raised their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Price Performance

NOW opened at $1,036.73 on Tuesday. The business’s 50-day moving average is $912.56 and its two-hundred day moving average is $813.57. ServiceNow, Inc. has a 1 year low of $632.25 and a 1 year high of $1,038.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $213.57 billion, a PE ratio of 161.23, a price-to-earnings-growth ratio of 5.79 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.