Wesbanco Bank Inc. makes a new $205,000 investment in ServiceNow, Inc. (NYSE:NOW)

Wesbanco Bank Inc. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 260 shares of the information technology services provider’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow in the first quarter valued at $25,000. Versant Capital Management Inc boosted its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of ServiceNow in the 4th quarter valued at $29,000. EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Finally, Disciplined Equity Management Inc. acquired a new position in ServiceNow in the 4th quarter valued at $35,000. 87.18% of the shares are currently held by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW traded up $14.94 during mid-day trading on Friday, hitting $811.08. 799,546 shares of the company traded hands, compared to its average volume of 1,338,625. ServiceNow, Inc. it has a one year low of $527.24 and a one year high of $850.33. The company has a current ratio of 1.12, a quick ratio of 1.12, and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $757.14 and a 200-day moving average of $755.59. The stock has a market cap of $166.27 billion, a price-to-earnings ratio of 86.75, a PEG ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. In the same period last year, the company posted earnings of $0.77 per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts expect ServiceNow, Inc. to post 6.84 earnings per share for the current fiscal year.

Analysts on Wall Street are forecasting an increase

NOW has been the subject of a number of analyst research reports. KeyCorp reduced their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Morgan Stanley boosted their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. UBS Group cut their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Robert W. Baird upped their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th . One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $842.22.

Read the latest stock analysis on NOW

Internal activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the transaction, the chief financial officer now directly owns 13,290 shares in the company, valued at $9,819,715.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ServiceNow news, Director Frederic B. Luddy sold 598 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $741.92, for a total value of $443,668.16. Following the sale, the director now directly owns 428 shares in the company, valued at $317,541.76. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the sale, the chief financial officer now owns 13,290 shares in the company, valued at $9,819,715.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,264 shares of company stock worth $7,004,710. Company insiders own 0.25% of the company’s shares.

ServiceNow profile

(Free report)

ServiceNow, Inc provides end-to-end intelligent workflow automation platform solutions for digital businesses in North America, Europe, 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.

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