Venturi Wealth Management LLC Grows Stock Position in ServiceNow, Inc. $NOW

Venturi Wealth Management LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 24.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,635 shares of the information technology services provider’s stock after acquiring an additional 910 shares during the quarter. Venturi Wealth Management LLC’s holdings in ServiceNow were worth $4,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Brighton Jones LLC increased its holdings in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in shares of ServiceNow by 9.1% in the first quarter. Moss Adams Wealth Advisors LLC now owns 517 shares of the information technology services provider’s stock valued at $411,000 after purchasing an additional 43 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of ServiceNow by 42.9% in the first quarter. Daymark Wealth Partners LLC now owns 726 shares of the information technology services provider’s stock valued at $578,000 after purchasing an additional 218 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of ServiceNow by 112.6% in the first quarter. Farther Finance Advisors LLC now owns 7,171 shares of the information technology services provider’s stock valued at $5,820,000 after purchasing an additional 3,798 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in shares of ServiceNow by 58.3% in the first quarter. Pallas Capital Advisors LLC now owns 3,225 shares of the information technology services provider’s stock valued at $2,568,000 after purchasing an additional 1,188 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction on Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director directly owned 9,307 shares of the company’s stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a report on Saturday, September 27th. Raymond James Financial increased their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Bank of America lifted their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,122.20.

ServiceNow Stock Performance

NYSE NOW opened at $905.41 on Wednesday. The stock has a market cap of $188.32 billion, a PE ratio of 114.03, a P/E/G ratio of 4.11 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a fifty day simple moving average of $911.49 and a 200-day simple moving average of $931.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the firm posted $3.13 earnings per share. The company’s revenue was up 22.4% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.