Chesapeake Wealth Management Takes Position in ServiceNow, Inc. (NYSE:NOW)

Chesapeake Wealth Management bought a new position in shares of ServiceNow, Inc. (NYSE:NOWFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 334 shares of the information technology services provider’s stock, valued at approximately $236,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares in the last quarter. FMR LLC raised its stake in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after acquiring an additional 595,697 shares in the last quarter. Jennison Associates LLC boosted its holdings in ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares during the period. Norges Bank acquired a new position in ServiceNow during the 4th quarter worth $1,648,259,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after purchasing an additional 81,028 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wolfe Research reissued an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Jefferies Financial Group boosted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, UBS Group cut their price target on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $814.48.

Check Out Our Latest Analysis on ServiceNow

Insiders Place Their Bets

In other news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares of the company’s stock, valued at approximately $2,785,725.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, Director Frederic B. Luddy sold 598 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the transaction, the director now directly owns 428 shares in the company, valued at $317,541.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul John Smith sold 602 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the completion of the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,315 shares of company stock worth $3,846,512. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock traded up $13.64 during trading hours on Friday, reaching $656.93. 4,301,832 shares of the stock were exchanged, compared to its average volume of 1,238,185. ServiceNow, Inc. has a 52-week low of $526.11 and a 52-week high of $815.32. The stock has a market cap of $134.67 billion, a P/E ratio of 70.26, a P/E/G ratio of 4.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average is $740.55 and its 200 day moving average is $734.54.

ServiceNow (NYSE:NOWGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. Analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

About ServiceNow

(Free Report)

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.

Read More

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWFree Report).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.