Evernest Financial Advisors LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Evernest Financial Advisors LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 204 shares of the information technology services provider’s stock, valued at approximately $216,000.

Several other institutional investors have also recently made changes to their positions in NOW. Truvestments Capital LLC purchased a new stake in shares of ServiceNow during the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC increased its holdings 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 purchasing an additional 17 shares during the last quarter. Oakworth Capital Inc. increased its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Dunhill Financial LLC increased its holdings in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares during the last quarter. Finally, Vestor Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Mizuho lifted their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Citigroup increased their price objective on ServiceNow from $1,071.00 to $1,432.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Needham & Company LLC increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.93.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock valued at $21,016,751 over the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.7 %

NOW opened at $1,020.17 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a market cap of $210.16 billion, a price-to-earnings ratio of 149.37, a PEG ratio of 5.19 and a beta of 0.99. The business’s fifty day moving average is $1,084.47 and its two-hundred day moving average is $952.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.56% and a net margin of 12.97%. Analysts anticipate that ServiceNow, Inc. will post 8.98 EPS for the current fiscal year.

ServiceNow declared that its board has authorized a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.