Weatherly Asset Management L. P. Has $4.50 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Weatherly Asset Management L. P. boosted its position in ServiceNow, Inc. (NYSE:NOW) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,369 shares of the information technology services provider’s stock after buying an additional 396 shares during the period. Weatherly Asset Management L. P.’s holdings in ServiceNow were worth $4,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NOW. Wealth Management Partners LLC lifted its stake in ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after buying an additional 15 shares during the last quarter. Claro Advisors LLC increased its holdings in shares of ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after buying an additional 15 shares during the last quarter. Finally, Country Club Bank GFN increased its holdings in shares of ServiceNow by 1.6% in the 4th quarter. Country Club Bank GFN now owns 951 shares of the information technology services provider’s stock worth $668,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. Truist Financial increased their price target on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Wells Fargo & Company increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Tuesday, April 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Finally, Mizuho increased their target price on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $780.37.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.6 %

NOW traded up $19.00 during midday trading on Tuesday, reaching $740.95. The company’s stock had a trading volume of 1,056,076 shares, compared to its average volume of 1,178,383. The firm has a market capitalization of $152.18 billion, a price-to-earnings ratio of 88.25, a PEG ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The stock’s 50-day moving average is $762.90 and its 200-day moving average is $705.19.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current 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.