Chesley Taft & Associates LLC Acquires 45 Shares of ServiceNow, Inc. (NYSE:NOW)

Chesley Taft & Associates LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,013 shares of the information technology services provider’s stock after acquiring an additional 45 shares during the quarter. Chesley Taft & Associates LLC’s holdings in ServiceNow were worth $4,254,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. First United Bank & Trust grew its holdings in shares of ServiceNow by 53.6% during the 4th quarter. First United Bank & Trust now owns 722 shares of the information technology services provider’s stock valued at $765,000 after purchasing an additional 252 shares during the last quarter. Aspiriant LLC grew its stake in shares of ServiceNow by 17.4% during the fourth quarter. Aspiriant LLC now owns 405 shares of the information technology services provider’s stock valued at $429,000 after buying an additional 60 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of ServiceNow by 6.3% in the fourth quarter. Ballentine Partners LLC now owns 3,053 shares of the information technology services provider’s stock worth $3,237,000 after buying an additional 182 shares during the period. Pure Financial Advisors LLC increased its holdings in shares of ServiceNow by 8.6% in the fourth quarter. Pure Financial Advisors LLC now owns 784 shares of the information technology services provider’s stock worth $831,000 after buying an additional 62 shares during the period. Finally, Regent Peak Wealth Advisors LLC boosted its holdings in ServiceNow by 4.0% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 392 shares of the information technology services provider’s stock valued at $416,000 after acquiring an additional 15 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were 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 represents a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock valued at $21,016,751 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on NOW. Stifel Nicolaus lifted their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research note on Friday. They set an “overweight” rating and a $1,332.00 price objective for the company. BMO Capital Markets raised their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Citigroup boosted their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,080.38.

ServiceNow Price Performance

Shares of NOW opened at $1,072.02 on Tuesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a market capitalization of $220.84 billion, a P/E ratio of 166.72, a price-to-earnings-growth ratio of 4.85 and a beta of 0.99. The firm has a 50 day moving average of $1,070.37 and a 200 day moving average of $935.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during 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 company’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 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

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.