Everence Capital Management Inc. Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Everence Capital Management Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW) by 0.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,313 shares of the information technology services provider’s stock after purchasing an additional 20 shares during the quarter. Everence Capital Management Inc.’s holdings in ServiceNow were worth $6,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. World Investment Advisors LLC grew its stake in ServiceNow by 499,668.1% in the third 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 purchasing an additional 4,771,830 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of ServiceNow by 89,137.0% during the 3rd 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 buying an additional 1,183,739 shares in the last quarter. Bank of Montreal Can grew its position in shares of ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares during the period. Wellington Management Group LLP increased its stake in shares of ServiceNow by 24.1% in the 3rd 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 acquiring an additional 615,797 shares in the last quarter. Finally, FMR LLC lifted its position in 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 acquiring an additional 502,845 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $8.63 during trading on Friday, hitting $1,062.97. The company’s stock had a trading volume of 177,145 shares, compared to its average volume of 590,370. The company has a 50-day moving average of $1,051.07 and a 200-day moving average of $908.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $218.97 billion, a price-to-earnings ratio of 165.31, a P/E/G ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company posted $1.21 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their ownership of the stock. The transaction 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 that occurred 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 of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,629 shares of company stock worth $20,861,626. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NOW shares. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. TD Cowen upped their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Truist Financial raised their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Mizuho boosted their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, UBS Group raised their price target on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,053.89.

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.