Heritage Oak Wealth Advisors LLC Acquires New Shares in ServiceNow, Inc. (NYSE:NOW)

Heritage Oak Wealth Advisors LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 653 shares of the information technology services provider’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Thrive Wealth Management LLC lifted its holdings in ServiceNow by 7.7% in the 1st quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock worth $297,000 after purchasing an additional 28 shares during the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of ServiceNow by 15.4% in the first quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock worth $935,000 after buying an additional 164 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of ServiceNow in the first quarter worth $138,000. Webster Bank N. A. boosted its holdings in shares of ServiceNow by 16.8% during the 1st quarter. Webster Bank N. A. now owns 4,025 shares of the information technology services provider’s stock worth $3,069,000 after buying an additional 580 shares during the period. Finally, Independence Bank of Kentucky grew its stake in ServiceNow by 27.2% in the 1st quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock valued at $89,000 after buying an additional 25 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on NOW shares. Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. Sanford C. Bernstein upped their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, KeyCorp boosted their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $970.22.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $956.40 on Friday. The stock’s fifty day simple moving average is $880.60 and its 200 day simple moving average is $795.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $197.02 billion, a PE ratio of 172.95, a PEG ratio of 5.04 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $979.78.

ServiceNow (NYSE:NOW) last released its quarterly 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. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. On average, research analysts predict that ServiceNow, Inc. will post 7.41 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,467 shares of company stock worth $4,450,447. Company 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.