Chesley Taft & Associates LLC Buys 45 Shares of ServiceNow, Inc. (NYSE:NOW)

Chesley Taft & Associates LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,013 shares of the information technology services provider’s stock after buying an additional 45 shares during the period. Chesley Taft & Associates LLC’s holdings in ServiceNow were worth $4,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NOW. Profund Advisors LLC raised its holdings in ServiceNow by 6.5% during the 2nd quarter. Profund Advisors LLC now owns 4,349 shares of the information technology services provider’s stock worth $3,421,000 after purchasing an additional 267 shares during the last quarter. ProShare Advisors LLC raised its stake in ServiceNow by 6.9% during the second quarter. ProShare Advisors LLC now owns 39,115 shares of the information technology services provider’s stock worth $30,771,000 after buying an additional 2,517 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in ServiceNow by 5.8% in the second quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock valued at $664,000 after buying an additional 45 shares during the period. Harmony Asset Management LLC bought a new stake in ServiceNow during the second quarter valued at $393,000. Finally, Nippon Life Global Investors Americas Inc. grew its holdings in ServiceNow by 8.5% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 72,480 shares of the information technology services provider’s stock worth $57,018,000 after acquiring an additional 5,690 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 81 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This represents a 1.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $1,072.02 on Tuesday. The business’s fifty day moving average is $1,070.37 and its 200 day moving average is $935.27. The firm has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a PEG ratio of 4.85 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 7.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group upped their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Evercore ISI raised their price target 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. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Cantor Fitzgerald initiated coverage on ServiceNow in a research report on Friday. They issued an “overweight” rating and a $1,332.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,080.38.

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.