20,682 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,682 shares of the information technology services provider’s stock, valued at approximately $9,549,000.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,835,423 shares of the information technology services provider’s stock valued at $5,760,149,000 after purchasing an additional 727,494 shares during the period. State Street Corp boosted its position in ServiceNow by 1.8% during the 1st quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider’s stock valued at $3,755,904,000 after buying an additional 141,744 shares during the period. Morgan Stanley grew its holdings in ServiceNow by 4.3% in the 4th quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock worth $2,745,763,000 after acquiring an additional 288,522 shares during the last quarter. Polen Capital Management LLC increased its position in shares of ServiceNow by 12.6% in the fourth quarter. Polen Capital Management LLC now owns 4,452,974 shares of the information technology services provider’s stock valued at $1,728,956,000 after acquiring an additional 499,675 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of ServiceNow by 2.3% during the first quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock worth $1,663,879,000 after purchasing an additional 79,037 shares during the period. Hedge funds and other institutional investors own 87.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NOW shares. Moffett Nathanson lifted their price objective on ServiceNow from $549.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Piper Sandler lifted their target price on shares of ServiceNow from $525.00 to $600.00 in a research note on Friday, June 9th. TheStreet raised shares of ServiceNow from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th. Bank of America upped their price target on ServiceNow from $600.00 to $700.00 in a research note on Wednesday, July 19th. Finally, Barclays dropped their price objective on shares of ServiceNow from $646.00 to $644.00 and set an “overweight” rating on the stock in a research note on Thursday, July 27th. Two analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $591.38.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 1,300 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $555.00, for a total value of $721,500.00. Following the completion of the transaction, the director now owns 13,741 shares of the company’s stock, valued at $7,626,255. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Christopher Bedi sold 1,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $593.51, for a total value of $593,510.00. Following the sale, the insider now owns 15,484 shares of the company’s stock, valued at $9,189,908.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $555.00, for a total value of $721,500.00. Following the transaction, the director now owns 13,741 shares of the company’s stock, valued at approximately $7,626,255. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,951 shares of company stock worth $10,147,437. Corporate insiders own 0.24% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $591.38 on Thursday. ServiceNow, Inc. has a 52 week low of $337.00 and a 52 week high of $614.36. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.21. The stock has a market cap of $120.49 billion, a price-to-earnings ratio of 85.21, a PEG ratio of 6.04 and a beta of 1.01. The business has a 50-day simple moving average of $572.31 and a two-hundred day simple moving average of $515.49.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 26th. The information technology services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ServiceNow had a net margin of 17.76% and a return on equity of 11.07%. On average, analysts expect that ServiceNow, Inc. will post 3.59 EPS for the current year.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.