Everence Capital Management Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,223 shares of the information technology services provider’s stock, valued at approximately $2,612,000.

Other large investors have also modified their holdings of the company. Chartwell Investment Partners LLC grew its position in shares of ServiceNow by 1.0% in the fourth quarter. Chartwell Investment Partners LLC now owns 22,014 shares of the information technology services provider’s stock valued at $12,117,000 after purchasing an additional 213 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of ServiceNow by 3.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 84,433 shares of the information technology services provider’s stock valued at $46,474,000 after purchasing an additional 2,458 shares during the last quarter. Middleton & Co Inc MA grew its position in shares of ServiceNow by 21.7% in the fourth quarter. Middleton & Co Inc MA now owns 12,878 shares of the information technology services provider’s stock valued at $7,088,000 after purchasing an additional 2,300 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of ServiceNow by 27.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 39,511 shares of the information technology services provider’s stock valued at $21,746,000 after purchasing an additional 8,546 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its position in shares of ServiceNow by 13.6% in the fourth quarter. Peregrine Capital Management LLC now owns 122,152 shares of the information technology services provider’s stock valued at $67,236,000 after purchasing an additional 14,621 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors.

In related news, CEO William R. Mcdermott sold 7,183 shares of the company’s stock in a transaction dated Friday, January 29th. The shares were sold at an average price of $544.67, for a total value of $3,912,364.61. Following the transaction, the chief executive officer now owns 4,314 shares in the company, valued at approximately $2,349,706.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chirantan Jitendra Desai sold 916 shares of the company’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $591.82, for a total transaction of $542,107.12. Following the completion of the transaction, the insider now owns 35,371 shares in the company, valued at approximately $20,933,265.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,005 shares of company stock worth $18,116,418. 1.00% of the stock is owned by company insiders.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised ServiceNow from a “sell” rating to a “hold” rating and set a $560.00 target price on the stock in a research report on Friday, February 26th. Citigroup assumed coverage on ServiceNow in a research report on Wednesday, March 3rd. They set a “buy” rating and a $665.00 target price on the stock. Argus lifted their target price on ServiceNow from $600.00 to $640.00 and gave the stock a “buy” rating in a research report on Tuesday, February 2nd. Credit Suisse Group lifted their target price on ServiceNow from $610.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Finally, BMO Capital Markets raised their price target on shares of ServiceNow from $575.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. Two equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $600.41.

Shares of NOW stock traded up $16.02 on Thursday, reaching $526.75. The stock had a trading volume of 32,798 shares, compared to its average volume of 1,549,512. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average is $509.53 and its two-hundred day moving average is $521.55. The firm has a market capitalization of $103.30 billion, a price-to-earnings ratio of 144.68, a P/E/G ratio of 12.70 and a beta of 1.14. ServiceNow, Inc. has a 12 month low of $263.90 and a 12 month high of $598.37.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 27th. The information technology services provider reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.11. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. ServiceNow had a net margin of 16.60% and a return on equity of 9.79%. ServiceNow’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. On average, sell-side analysts forecast that ServiceNow, Inc. will post 1.11 earnings per share for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Further Reading: Percentage Decliners

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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