Meridian Financial Partners LLC Sells 23 Shares of ServiceNow, Inc. (NYSE:NOW)

Meridian Financial Partners LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,148 shares of the information technology services provider’s stock after selling 23 shares during the quarter. Meridian Financial Partners LLC’s holdings in ServiceNow were worth $1,217,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. World Investment Advisors LLC boosted its stake in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Bank of Montreal Can lifted its holdings in ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after acquiring an additional 935,848 shares during the period. Wellington Management Group LLP boosted its position in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. Finally, FMR LLC grew its stake in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. Piper Sandler increased their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. UBS Group increased their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein lifted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Mizuho upped their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,071.39.

ServiceNow Stock Up 1.4 %

NYSE NOW opened at $1,029.85 on Wednesday. The stock has a 50 day moving average price of $1,066.34 and a 200-day moving average price of $927.52. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. 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 company has a market capitalization of $212.15 billion, a P/E ratio of 160.16, a P/E/G ratio of 6.43 and a beta of 0.99.

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

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the sale, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction 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 owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,276 shares of company stock worth $20,535,115. Corporate insiders own 0.25% of the company’s stock.

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.