Gilliland Jeter Wealth Management LLC Buys New Position in ServiceNow, Inc. (NYSE:NOW)

Gilliland Jeter Wealth Management LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 769 shares of the information technology services provider’s stock, valued at approximately $543,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after acquiring an additional 122,577 shares during the period. FMR LLC lifted its position in shares of ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the period. Jennison Associates LLC lifted its position in shares of ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares during the period. Northern Trust Corp lifted its position in shares of ServiceNow by 1.8% during the 3rd quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock worth $1,230,994,000 after buying an additional 39,259 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of ServiceNow by 3.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock worth $1,230,114,000 after buying an additional 72,570 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by insiders.

ServiceNow Stock Up 1.0 %

Shares of ServiceNow stock traded up $7.30 during trading on Friday, reaching $723.55. The stock had a trading volume of 1,445,884 shares, compared to its average volume of 1,087,368. The company has a market capitalization of $148.60 billion, a price-to-earnings ratio of 77.32, a P/E/G ratio of 4.53 and a beta of 0.97. The stock has a fifty day moving average price of $759.21 and a two-hundred day moving average price of $707.90. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. Sell-side analysts predict that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on NOW. Truist Financial raised their target price on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. BMO Capital Markets cut their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Jefferies Financial Group raised their price target on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report on Thursday. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $782.85.

About ServiceNow

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.