Taylor Hoffman Wealth Management Increases Stock Position in ServiceNow Inc (NYSE:NOW)

Taylor Hoffman Wealth Management raised its position in shares of ServiceNow Inc (NYSE:NOW) by 29.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,064 shares of the information technology services provider’s stock after buying an additional 703 shares during the period. Taylor Hoffman Wealth Management’s holdings in ServiceNow were worth $778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NOW. Delta Asset Management LLC TN purchased a new stake in ServiceNow during the 3rd quarter valued at $25,000. San Francisco Sentry Investment Group CA boosted its position in ServiceNow by 650.0% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 91 shares during the period. AdvisorNet Financial Inc purchased a new stake in ServiceNow during the 3rd quarter valued at $31,000. North Star Investment Management Corp. purchased a new stake in ServiceNow during the 3rd quarter valued at $32,000. Finally, Motco purchased a new stake in ServiceNow during the 2nd quarter valued at $33,000. 90.97% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on NOW. ValuEngine raised shares of ServiceNow from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and issued a $330.00 target price (up from $300.00) on shares of ServiceNow in a research report on Thursday, July 25th. Robert W. Baird raised their target price on shares of ServiceNow from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Cfra raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $292.31.

Shares of ServiceNow stock traded up $7.56 during trading on Friday, hitting $248.45. The company’s stock had a trading volume of 1,825,086 shares, compared to its average volume of 1,975,001. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.05 and a current ratio of 1.05. The company has a fifty day simple moving average of $253.22 and a two-hundred day simple moving average of $267.00. The company has a market capitalization of $45.35 billion, a PE ratio of 1,242.25, a P/E/G ratio of 17.96 and a beta of 1.28. ServiceNow Inc has a 52 week low of $147.63 and a 52 week high of $303.17.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.81. The company had revenue of $885.80 million during the quarter, compared to analyst estimates of $885.53 million. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. ServiceNow’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. As a group, analysts predict that ServiceNow Inc will post 0.48 EPS for the current year.

In other ServiceNow news, CFO Michael Scarpelli sold 31,183 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following the completion of the sale, the chief financial officer now directly owns 36,200 shares in the company, valued at approximately $9,419,964. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chirantan Jitendra Desai sold 1,563 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $261.30, for a total transaction of $408,411.90. Following the sale, the insider now owns 33,864 shares of the company’s stock, valued at $8,848,663.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,854 shares of company stock valued at $22,294,182. 1.00% of the stock is owned by company insiders.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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