Geneos Wealth Management Inc. Increases Stock Holdings in ServiceNow, Inc. $NOW

Geneos Wealth Management Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 32.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 760 shares of the information technology services provider’s stock after buying an additional 188 shares during the quarter. Geneos Wealth Management Inc.’s holdings in ServiceNow were worth $605,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NOW. Bogart Wealth LLC increased its position in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow during the 1st quarter worth about $26,000. WASHINGTON TRUST Co increased its position in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares in the last quarter. Dagco Inc. purchased a new stake in ServiceNow during the 1st quarter worth about $33,000. Finally, Heck Capital Advisors LLC purchased a new stake in ServiceNow during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $930.04 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock’s 50 day moving average is $927.34 and its two-hundred day moving average is $922.33. The company has a market capitalization of $193.45 billion, a PE ratio of 117.13, a P/E/G ratio of 4.23 and a beta of 0.91.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $3.13 EPS. The business’s quarterly revenue was up 22.4% on a year-over-year basis. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOW. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Piper Sandler lifted their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Morgan Stanley reiterated an “equal weight” rating on shares of ServiceNow in a research report on Tuesday, July 8th. Finally, Raymond James Financial raised their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,115.20.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock worth $17,049,775 over the last 90 days. Insiders own 0.38% of the company’s stock.

About ServiceNow

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.