EverSource Wealth Advisors LLC Raises Stake in ServiceNow, Inc. (NYSE:NOW)

EverSource Wealth Advisors LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 41.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 723 shares of the information technology services provider’s stock after buying an additional 213 shares during the period. EverSource Wealth Advisors LLC’s holdings in ServiceNow were worth $511,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Argonautica Private Wealth Management Inc. grew its stake in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after buying an additional 13 shares during the period. Wealth Management Partners LLC grew its stake in shares of ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after buying an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its position in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares in the last quarter. Trust Co. of Vermont grew its position in ServiceNow by 8.6% in the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after acquiring an additional 15 shares in the last quarter. Finally, Claro Advisors LLC lifted its position in shares of ServiceNow by 3.6% during the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Stifel Nicolaus restated a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Piper Sandler raised their price target on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. UBS Group cut their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $808.73.

ServiceNow Stock Up 0.3 %

Shares of NOW traded up $2.49 during mid-day trading on Thursday, hitting $773.32. 150,484 shares of the company’s stock were exchanged, compared to its average volume of 1,189,953. The stock has a market cap of $158.53 billion, a price-to-earnings ratio of 82.40, a P/E/G ratio of 4.87 and a beta of 0.98. The firm has a fifty day moving average of $747.63 and a two-hundred day moving average of $730.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a twelve month low of $494.13 and a twelve month high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, sell-side analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Paul John Smith sold 602 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 917 shares of company stock valued at $690,880. Company insiders own 0.25% of the company’s stock.

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.