Trueblood Wealth Management LLC Invests $286,000 in ServiceNow, Inc. (NYSE:NOW)

Trueblood Wealth Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 405 shares of the information technology services provider’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOW. PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow during the third quarter worth $28,000. First Capital Advisors Group LLC. bought a new stake in ServiceNow during the 2nd quarter worth $29,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow in the 1st quarter worth about $29,000. Steward Financial Group LLC boosted its stake in shares of ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 35 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of ServiceNow during the third quarter worth about $35,000. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. Piper Sandler lifted their target price 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 boosted their price objective on shares of ServiceNow from $865.00 to $885.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their target price on ServiceNow from $675.00 to $725.00 and gave the stock an “overweight” rating in a research report on Thursday, November 30th. Robert W. Baird upped their price target on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC raised their price objective on ServiceNow from $660.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $762.96.

ServiceNow Price Performance

NOW stock opened at $761.61 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average is $769.61 and its 200-day moving average is $680.16. The stock has a market capitalization of $156.13 billion, a PE ratio of 90.56, a price-to-earnings-growth ratio of 4.83 and a beta of 0.97. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 over the last ninety days. 0.24% of the stock is owned by company insiders.

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.