Federated Hermes Inc. Sells 960 Shares of ServiceNow, Inc. (NYSE:NOW)

Federated Hermes Inc. lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 304,373 shares of the information technology services provider’s stock after selling 960 shares during the quarter. Federated Hermes Inc. owned 0.15% of ServiceNow worth $239,441,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. M&G Plc bought a new position in ServiceNow in the 1st quarter worth $11,030,000. New Mexico Educational Retirement Board boosted its stake in shares of ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after acquiring an additional 1,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares in the last quarter. Wealthspire Advisors LLC raised its stake in ServiceNow by 3.4% during the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after purchasing an additional 56 shares during the period. Finally, Brookstone Capital Management lifted its holdings in ServiceNow by 25.5% in the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after purchasing an additional 2,928 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 1.2 %

Shares of NOW stock opened at $886.11 on Friday. The company has a market cap of $182.54 billion, a price-to-earnings ratio of 94.77, a PEG ratio of 5.25 and a beta of 0.98. The stock has a 50 day simple moving average of $805.77 and a 200-day simple moving average of $765.81. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $889.52.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the firm posted $0.77 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred 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 transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 in the last ninety days. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price objective on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. BMO Capital Markets raised their price target on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Truist Financial raised their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $849.62.

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.