Everence Capital Management Inc. Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Everence Capital Management Inc. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,313 shares of the information technology services provider’s stock after acquiring an additional 20 shares during the period. Everence Capital Management Inc.’s holdings in ServiceNow were worth $6,693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Fiera Capital Corp lifted its holdings in shares of ServiceNow by 16.0% in the second quarter. Fiera Capital Corp now owns 3,449 shares of the information technology services provider’s stock worth $2,713,000 after buying an additional 476 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of ServiceNow during the 2nd quarter valued at about $282,000. Jackson Creek Investment Advisors LLC purchased a new position in shares of ServiceNow during the second quarter valued at about $352,000. Pursue Wealth Partners LLC bought a new stake in shares of ServiceNow in the second quarter worth about $290,000. Finally, Commons Capital LLC increased its holdings in shares of ServiceNow by 7.8% in the second quarter. Commons Capital LLC now owns 1,678 shares of the information technology services provider’s stock worth $1,320,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $20,861,626 over the last three months. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NOW shares. Citigroup raised their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Stifel Nicolaus upped their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,053.89.

ServiceNow Trading Up 0.8 %

NOW stock traded up $8.63 during mid-day trading on Friday, reaching $1,062.97. The company had a trading volume of 177,145 shares, compared to its average volume of 590,370. The company has a market capitalization of $218.97 billion, a PE ratio of 165.31, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The firm has a 50 day moving average of $1,051.07 and a 200 day moving average of $908.48. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal 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.