Modera Wealth Management LLC Invests $244,000 in ServiceNow, Inc. (NYSE:NOW)

Modera Wealth Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 273 shares of the information technology services provider’s stock, valued at approximately $244,000.

Several other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. grew its stake in ServiceNow by 108.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 192 shares of the information technology services provider’s stock valued at $172,000 after buying an additional 100 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in ServiceNow by 41.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 906 shares of the information technology services provider’s stock valued at $810,000 after buying an additional 267 shares during the last quarter. Horizon Bancorp Inc. IN grew its stake in ServiceNow by 316.4% in the 3rd quarter. Horizon Bancorp Inc. IN now owns 254 shares of the information technology services provider’s stock valued at $227,000 after buying an additional 193 shares during the last quarter. NorthCrest Asset Manangement LLC grew its stake in ServiceNow by 2.2% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,080 shares of the information technology services provider’s stock valued at $966,000 after buying an additional 23 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its stake in ServiceNow by 30.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 2,642 shares of the information technology services provider’s stock valued at $2,363,000 after buying an additional 614 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 0.8 %

NOW opened at $952.97 on Wednesday. ServiceNow, Inc. has a twelve month low of $558.09 and a twelve month high of $979.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $890.11 and a 200-day moving average of $800.19. The stock has a market cap of $196.31 billion, a PE ratio of 148.21, a price-to-earnings-growth ratio of 5.67 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 earnings per share. On average, sell-side analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock valued at $4,450,447 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research reports. UBS Group upped their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup upped their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Guggenheim reissued a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Finally, Robert W. Baird boosted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $970.33.

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.