Enterprise Financial Services Corp Cuts Position in ServiceNow, Inc. $NOW

Enterprise Financial Services Corp trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378 shares of the information technology services provider’s stock after selling 21 shares during the quarter. Enterprise Financial Services Corp’s holdings in ServiceNow were worth $301,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NOW. Bogart Wealth LLC raised its holdings in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow in the 1st quarter worth about $26,000. Quarry LP purchased a new position in shares of ServiceNow in the 4th quarter worth about $27,000. WASHINGTON TRUST Co raised its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares during the period. Finally, Dagco Inc. purchased a new stake in shares of ServiceNow during the 1st quarter valued at about $33,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial upgraded ServiceNow from a “hold” rating to a “buy” rating and raised their target price for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. Mizuho raised their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, June 12th. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. FBN Securities upgraded ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. Finally, Bank of America raised their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,115.20.

ServiceNow Price Performance

Shares of NYSE NOW opened at $885.7930 on Friday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The business has a 50 day moving average price of $955.00 and a two-hundred day moving average price of $929.03. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $184.24 billion, a PE ratio of 111.56, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm earned $3.13 EPS. ServiceNow’s quarterly revenue was up 22.4% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 3,027 shares in the company, valued at $2,622,744.15. This trade represents a 34.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,096 shares of company stock worth $14,807,562 over the last quarter. Corporate insiders own 0.38% of the company’s stock.

ServiceNow 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.