Blue Trust Inc. Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Blue Trust Inc. lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 18.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,364 shares of the information technology services provider’s stock after purchasing an additional 209 shares during the period. Blue Trust Inc.’s holdings in ServiceNow were worth $1,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Norges Bank bought a new stake in shares of ServiceNow in the fourth quarter valued at $2,603,360,000. Proficio Capital Partners LLC lifted its position in shares of ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after buying an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of ServiceNow during the 4th quarter worth $682,468,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NOW shares. Oppenheimer reaffirmed an “outperform” rating and issued a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Citigroup lifted their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,003.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Finally, TD Securities restated a “buy” rating and issued a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,062.50.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer now owns 6,614 shares of the company’s stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Down 2.4%

Shares of NYSE NOW opened at $980.29 on Friday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $202.90 billion, a price-to-earnings ratio of 133.19, a PEG ratio of 4.53 and a beta of 0.95. The business’s 50 day moving average price is $960.74 and its 200-day moving average price is $971.98.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned $3.41 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.