ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Meridian Wealth Management LLC

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc increased its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new position in ServiceNow in the 2nd quarter valued at about $32,000. Finally, DT Investment Partners LLC grew its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the company’s 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 completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,644 shares of company stock worth $19,381,744. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets lifted their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. TD Cowen lifted their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Barclays lifted their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, JMP Securities lifted their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

ServiceNow Trading Up 1.3 %

Shares of NOW stock opened at $1,060.57 on Friday. The business’s fifty day moving average price is $948.53 and its 200 day moving average price is $834.64. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,064.59. The firm 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. 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 posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 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 the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 EPS 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.