Trueblood Wealth Management LLC Has $524,000 Position in ServiceNow, Inc. (NYSE:NOW)

Trueblood Wealth Management LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 17.3% during the fourth quarter, HoldingsChannel reports. The firm owned 494 shares of the information technology services provider’s stock after buying an additional 73 shares during the quarter. Trueblood Wealth Management LLC’s holdings in ServiceNow were worth $524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Diversify Wealth Management LLC grew its stake in ServiceNow by 0.6% in the fourth quarter. Diversify Wealth Management LLC now owns 6,531 shares of the information technology services provider’s stock valued at $6,692,000 after acquiring an additional 42 shares during the period. Annex Advisory Services LLC grew its position in shares of ServiceNow by 18.8% in the 4th quarter. Annex Advisory Services LLC now owns 21,947 shares of the information technology services provider’s stock valued at $23,266,000 after purchasing an additional 3,471 shares during the period. Brady Martz Wealth Solutions LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at approximately $842,000. Oak Ridge Investments LLC increased its stake in ServiceNow by 6.0% during the 4th quarter. Oak Ridge Investments LLC now owns 11,241 shares of the information technology services provider’s stock worth $11,917,000 after purchasing an additional 639 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in ServiceNow by 24.3% during the 4th quarter. Aaron Wealth Advisors LLC now owns 813 shares of the information technology services provider’s stock worth $862,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOW. Wells Fargo & Company lifted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Sanford C. Bernstein raised their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, The Goldman Sachs Group lifted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,080.38.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last 90 days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 1.4 %

Shares of NOW opened at $1,072.02 on Monday. The firm has a market cap of $220.84 billion, a P/E ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The firm’s 50-day simple moving average is $1,069.67 and its 200 day simple moving average is $932.23.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

ServiceNow Company 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.