Evermay Wealth Management LLC Acquires 13 Shares of ServiceNow, Inc. $NOW

Evermay Wealth Management LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 813 shares of the information technology services provider’s stock after purchasing an additional 13 shares during the quarter. Evermay Wealth Management LLC’s holdings in ServiceNow were worth $836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NOW. Haverford Trust Co boosted its stake in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after buying an additional 10 shares in the last quarter. Ascent Group LLC grew its holdings in shares of ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after purchasing an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. grew its holdings in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 11 shares during the last quarter. Integrated Investment Consultants LLC increased its position in ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after purchasing an additional 11 shares in the last quarter. Finally, one8zero8 LLC lifted its stake in ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. DA Davidson upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. Wells Fargo & Company increased 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. BMO Capital Markets boosted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, Barclays set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,121.37.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. The trade was a 46.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the firm’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 directly owned 3,027 shares of the company’s stock, valued at $2,622,744.15. This represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW opened at $904.57 on Monday. The business has a 50-day moving average of $910.30 and a 200-day moving average of $936.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $188.15 billion, a price-to-earnings ratio of 113.93, a price-to-earnings-growth ratio of 4.07 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 earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the business posted $3.13 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

About ServiceNow

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.