Sterling Investment Counsel LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Sterling Investment Counsel LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,603 shares of the information technology services provider’s stock after purchasing an additional 85 shares during the period. Sterling Investment Counsel LLC’s holdings in ServiceNow were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust lifted its stake in ServiceNow by 3.1% in the third quarter. Greenleaf Trust now owns 3,700 shares of the information technology services provider’s stock worth $3,309,000 after purchasing an additional 110 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of ServiceNow by 44.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,076 shares of the information technology services provider’s stock valued at $963,000 after acquiring an additional 329 shares in the last quarter. Meadow Creek Wealth Advisors LLC purchased a new position in ServiceNow during the third quarter valued at approximately $214,000. Weaver Capital Management LLC increased its holdings in ServiceNow by 54.0% during the third quarter. Weaver Capital Management LLC now owns 1,491 shares of the information technology services provider’s stock valued at $1,334,000 after buying an additional 523 shares during the period. Finally, Segment Wealth Management LLC increased its holdings in ServiceNow by 39.3% during the third quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider’s stock valued at $634,000 after buying an additional 200 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,267 shares of company stock valued at $5,935,447. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 1.0 %

Shares of NYSE:NOW traded down $9.38 during trading on Wednesday, reaching $908.57. The stock had a trading volume of 314,714 shares, compared to its average volume of 1,267,734. The business has a fifty day moving average price of $878.83 and a 200-day moving average price of $794.29. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $186.26 billion, a P/E ratio of 97.73, a PEG ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NOW shares. BMO Capital Markets lifted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Evercore ISI boosted their price objective on shares of ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Piper Sandler boosted their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $927.62.

ServiceNow 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.