YHB Investment Advisors Inc. Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

YHB Investment Advisors Inc. increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,858 shares of the information technology services provider’s stock after buying an additional 326 shares during the period. YHB Investment Advisors Inc.’s holdings in ServiceNow were worth $4,345,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. M&G Plc bought a new position in shares of ServiceNow during the first quarter worth about $11,030,000. AXA S.A. lifted its stake in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares during the last quarter. HWG Holdings LP bought a new position in shares of ServiceNow during the second quarter worth about $2,679,000. New Mexico Educational Retirement Board lifted its position in ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $900.00 to $960.00 in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. UBS Group upped their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Mizuho increased their price target on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $927.62.

ServiceNow Stock Down 1.1 %

NOW opened at $907.68 on Thursday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59. The company has a market capitalization of $186.07 billion, a P/E ratio of 97.08, a P/E/G 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 firm’s fifty day moving average price is $880.60 and its two-hundred day moving average price is $795.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their position. 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 owned by insiders.

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.