Exchange Bank Makes New Investment in ServiceNow, Inc. $NOW

Exchange Bank acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 213 shares of the information technology services provider’s stock, valued at approximately $219,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Haverford Trust Co grew its position in ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after purchasing an additional 10 shares in the last quarter. Ascent Group LLC grew its position in shares of ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after acquiring an additional 10 shares during the period. Edgemoor Investment Advisors Inc. grew its position in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 11 shares during the period. Integrated Investment Consultants LLC grew its position in shares of ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after acquiring an additional 11 shares during the period. Finally, one8zero8 LLC grew its position in shares of ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 11 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Up 2.1%

NYSE:NOW opened at $948.28 on Tuesday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50-day simple moving average is $925.62 and its 200 day simple moving average is $922.47. The firm has a market capitalization of $197.24 billion, a P/E ratio of 119.43, a PEG ratio of 4.18 and a beta of 0.91.

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

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Needham & Company LLC increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group increased their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,115.20.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is owned by company insiders.

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.