Trueblood Wealth Management LLC Acquires 16 Shares of ServiceNow, Inc. (NYSE:NOW)

Trueblood Wealth Management LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 414 shares of the information technology services provider’s stock after buying an additional 16 shares during the period. Trueblood Wealth Management LLC’s holdings in ServiceNow were worth $326,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NOW. Creekmur Asset Management LLC acquired a new position in ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow in the fourth quarter valued at about $29,000. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in ServiceNow during the second quarter valued at about $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NOW stock opened at $875.17 on Thursday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $877.62. The business’s fifty day moving average is $803.76 and its 200-day moving average is $764.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $179.41 billion, a P/E ratio of 93.60, a price-to-earnings-growth ratio of 4.95 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last 90 days. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets upped their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen raised their price target on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $849.62.

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.