ServiceNow, Inc. $NOW Shares Acquired by Trust Point Inc.

Trust Point Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 14.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,909 shares of the information technology services provider’s stock after buying an additional 234 shares during the period. Trust Point Inc.’s holdings in ServiceNow were worth $1,963,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NOW. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in ServiceNow during the first quarter worth approximately $26,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares in the last quarter. Dagco Inc. bought a new stake in ServiceNow during the first quarter worth approximately $33,000. Finally, Heck Capital Advisors LLC bought a new stake in ServiceNow during the fourth quarter worth approximately $37,000. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOW. Guggenheim restated a “sell” rating and set a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. DA Davidson raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. BMO Capital Markets raised their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, Piper Sandler raised their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,115.20.

ServiceNow Trading Down 0.4%

Shares of NYSE:NOW opened at $946.77 on Friday. The firm has a fifty day moving average of $922.08 and a two-hundred day moving average of $922.99. The firm has a market capitalization of $196.93 billion, a P/E ratio of 119.24, a price-to-earnings-growth ratio of 4.28 and a beta of 0.91. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

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 analysts’ consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $3.13 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the transaction, the insider owned 457 shares in the company, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by company insiders.

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.