Wedmont Private Capital Has $336,000 Position in ServiceNow, Inc. (NYSE:NOW)

Wedmont Private Capital lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 6.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 917 shares of the information technology services provider’s stock after acquiring an additional 57 shares during the period. Wedmont Private Capital’s holdings in ServiceNow were worth $336,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOW. Polen Capital Management LLC lifted its position in shares of ServiceNow by 26.5% during the 3rd quarter. Polen Capital Management LLC now owns 3,953,299 shares of the information technology services provider’s stock valued at $1,492,805,000 after acquiring an additional 827,285 shares during the period. Tiger Global Management LLC raised its holdings in ServiceNow by 51.8% during the third quarter. Tiger Global Management LLC now owns 1,694,117 shares of the information technology services provider’s stock worth $639,716,000 after buying an additional 577,933 shares during the last quarter. Vanguard Group Inc. raised its holdings in ServiceNow by 1.9% during the third quarter. Vanguard Group Inc. now owns 16,866,914 shares of the information technology services provider’s stock worth $6,369,116,000 after buying an additional 320,130 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in ServiceNow by 37.9% during the second quarter. Ontario Teachers Pension Plan Board now owns 890,775 shares of the information technology services provider’s stock worth $423,581,000 after buying an additional 244,958 shares during the last quarter. Finally, Stockbridge Partners LLC raised its holdings in ServiceNow by 79.6% during the first quarter. Stockbridge Partners LLC now owns 483,554 shares of the information technology services provider’s stock worth $269,286,000 after buying an additional 214,243 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Lara Caimi sold 2,975 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $431.58, for a total transaction of $1,283,950.50. Following the completion of the transaction, the insider now owns 98 shares in the company, valued at $42,294.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Lara Caimi sold 2,975 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $431.58, for a total transaction of $1,283,950.50. Following the completion of the transaction, the insider now owns 98 shares in the company, valued at $42,294.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 1,083 shares of the stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $461.03, for a total transaction of $499,295.49. Following the transaction, the insider now owns 267 shares of the company’s stock, valued at approximately $123,095.01. The disclosure for this sale can be found here. Insiders sold 63,016 shares of company stock worth $28,805,543 over the last quarter. 0.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. StockNews.com initiated coverage on shares of ServiceNow in a report on Thursday. They set a “buy” rating on the stock. BMO Capital Markets upped their price objective on shares of ServiceNow from $475.00 to $500.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. Morgan Stanley upped their price objective on shares of ServiceNow from $520.00 to $612.00 and gave the stock an “overweight” rating in a report on Monday, December 19th. Barclays lowered their price objective on shares of ServiceNow from $496.00 to $495.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Finally, Wolfe Research increased their target price on shares of ServiceNow from $500.00 to $510.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $517.47.

ServiceNow Price Performance

NOW opened at $441.00 on Friday. The firm has a market cap of $89.52 billion, a P/E ratio of 275.63, a PEG ratio of 5.66 and a beta of 1.03. The firm has a 50-day moving average of $439.00 and a 200 day moving average of $412.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. ServiceNow, Inc. has a fifty-two week low of $337.00 and a fifty-two week high of $601.62.

ServiceNow (NYSE:NOW – Get Rating) last issued its earnings results on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.28. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. ServiceNow had a net margin of 4.49% and a return on equity of 9.37%. On average, research analysts expect that ServiceNow, Inc. will post 2.64 EPS for the current year.

About ServiceNow

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.