Meridian Wealth Management LLC Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Meridian Wealth Management LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,151 shares of the information technology services provider’s stock after buying an additional 202 shares during the quarter. Meridian Wealth Management LLC’s holdings in ServiceNow were worth $2,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Catalyst Financial Partners LLC increased its stake in ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares during the last quarter. First Affirmative Financial Network increased its stake in ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after acquiring an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 12 shares during the last quarter. BluePointe Capital Management LLC increased its stake in ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after acquiring an additional 12 shares during the last quarter. Finally, Morling Financial Advisors LLC increased its stake in ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after acquiring an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Up 1.3 %

NOW opened at $1,060.57 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,064.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s fifty day moving average is $948.53 and its 200-day moving average is $834.64. The company has a market capitalization of $218.48 billion, a PE ratio of 164.94, a P/E/G ratio of 6.01 and a beta of 0.98.

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

Insider Transactions at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 33.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,644 shares of company stock valued at $19,381,744 over the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. JMP Securities increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets increased their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein raised their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Oppenheimer lifted their target price on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

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.