Mowery & Schoenfeld Wealth Management LLC Buys New Position in ServiceNow, Inc. (NYSE:NOW)

Mowery & Schoenfeld Wealth Management LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 112 shares of the information technology services provider’s stock, valued at approximately $100,000.

Several other large investors have also added to or reduced their stakes in NOW. Creekmur Asset Management LLC bought a new stake in ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc raised its holdings in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC boosted its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new position in ServiceNow in the second quarter valued at approximately $32,000. Finally, Oakworth Capital Inc. increased its position in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated 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 transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. TD Cowen increased their price objective on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday. Mizuho increased their price target on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Oppenheimer lifted their price target on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $966.08.

ServiceNow Price Performance

ServiceNow stock traded up $53.27 during mid-day trading on Thursday, reaching $960.95. 1,758,035 shares of the company were exchanged, compared to its average volume of 1,277,566. The firm has a market cap of $196.99 billion, a PE ratio of 102.78, a PEG ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day simple moving average of $880.60 and a 200-day simple moving average of $795.09. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $979.78.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal 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.