Everence Capital Management Inc. Acquires Shares of 5,223 ServiceNow, Inc. (NYSE:NOW)


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Everence Capital Management Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,223 shares of the information technology services provider’s stock, valued at approximately $2,612,000.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its stake in shares of ServiceNow by 372.7% in the 4th quarter. Allworth Financial LP now owns 52 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 41 shares in the last quarter. Sterling Financial Planning Inc. acquired a new stake in ServiceNow in the 4th quarter worth about $30,000. Birchcreek Wealth Management LLC acquired a new stake in ServiceNow in the 4th quarter worth about $33,000. Kistler Tiffany Companies LLC acquired a new stake in ServiceNow in the 4th quarter worth about $34,000. Finally, Clearview Wealth Advisors LLC acquired a new stake in ServiceNow in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

In related news, Director Paul Edward Chamberlain sold 75 shares of ServiceNow stock in a transaction on Friday, January 29th. The shares were sold at an average price of $549.08, for a total transaction of $41,181.00. Following the sale, the director now owns 9,499 shares of the company’s stock, valued at approximately $5,215,710.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chirantan Jitendra Desai sold 916 shares of ServiceNow stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $591.82, for a total transaction of $542,107.12. Following the sale, the insider now directly owns 35,371 shares in the company, valued at approximately $20,933,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 32,005 shares of company stock worth $18,116,418 in the last 90 days. Company insiders own 1.00% of the company’s stock.

NOW has been the topic of several recent research reports. Credit Suisse Group boosted their target price on ServiceNow from $610.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Oppenheimer boosted their target price on ServiceNow from $600.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Barclays upped their price objective on ServiceNow from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Citigroup started coverage on ServiceNow in a report on Wednesday, March 3rd. They issued a “buy” rating and a $665.00 price objective on the stock. Finally, TheStreet lowered ServiceNow from a “b” rating to a “c+” rating in a research report on Tuesday, January 19th. Two analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. ServiceNow presently has an average rating of “Buy” and a consensus target price of $600.41.

NYSE NOW traded up $16.02 during trading hours on Thursday, hitting $526.75. 32,798 shares of the stock were exchanged, compared to its average volume of 1,549,512. The company has a market cap of $103.30 billion, a price-to-earnings ratio of 144.68, a price-to-earnings-growth ratio of 12.70 and a beta of 1.14. ServiceNow, Inc. has a 12-month low of $263.90 and a 12-month high of $598.37. The stock has a 50-day moving average of $509.53 and a 200 day moving average of $521.55. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.64.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 27th. The information technology services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. ServiceNow had a net margin of 16.60% and a return on equity of 9.79%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the company posted $0.96 earnings per share. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 1.11 earnings per share for the current year.

ServiceNow Company Profile

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

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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