BTC Capital Management Inc. Has $1.50 Million Stock Position in ServiceNow, Inc. $NOW

BTC Capital Management Inc. lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 11.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,458 shares of the information technology services provider’s stock after buying an additional 146 shares during the period. BTC Capital Management Inc.’s holdings in ServiceNow were worth $1,499,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Bogart Wealth LLC increased its holdings in 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 in the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the first quarter valued at approximately $26,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in ServiceNow in the second quarter worth approximately $30,000. Finally, Dagco Inc. bought a new position in ServiceNow in the first quarter worth approximately $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. DA Davidson increased their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Bank of America increased their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 price target on ServiceNow in a report on Thursday, July 24th. Raymond James Financial increased their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, FBN Securities upgraded ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,115.20.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction on Monday, August 18th. The stock was 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock worth $17,049,775 in the last three months. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $963.21 on Friday. The firm has a market cap of $200.35 billion, a PE ratio of 121.31, a PEG ratio of 4.33 and a beta of 0.91. The stock’s fifty day moving average price is $922.60 and its two-hundred day moving average price is $923.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

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

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.