Everhart Financial Group Inc. Has $1.99 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Everhart Financial Group Inc. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,880 shares of the information technology services provider’s stock after buying an additional 96 shares during the period. Everhart Financial Group Inc.’s holdings in ServiceNow were worth $1,993,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Avidian Wealth Enterprises LLC lifted its holdings in ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock worth $527,000 after purchasing an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 10 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares in the last quarter. Institute for Wealth Management LLC. raised its holdings in ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after acquiring an additional 11 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Down 0.4 %

Shares of NYSE:NOW opened at $985.67 on Friday. The company has a market capitalization of $203.05 billion, a price-to-earnings ratio of 144.31, a P/E/G ratio of 4.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business’s 50-day moving average is $1,070.53 and its 200-day moving average is $971.00. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. Needham & Company LLC lifted their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Barclays lifted their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,077,066.58. This represents a 3.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry Quinlan sold 415 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the transaction, the director now directly owns 1,322 shares in the company, valued at approximately $1,335,828.12. This trade represents a 23.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,257 shares of company stock valued at $23,579,376. 0.25% of the stock is owned by company insiders.

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.