ServiceNow, Inc. (NYSE:NOW) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,599 shares of the information technology services provider’s stock after selling 1,377 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of ServiceNow worth $98,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Bank of Montreal Can lifted its holdings in ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after acquiring an additional 935,848 shares during the period. FMR LLC boosted its position in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of ServiceNow by 917.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 310,754 shares of the information technology services provider’s stock worth $277,935,000 after purchasing an additional 280,210 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new position in shares of ServiceNow in the 2nd quarter valued at about $218,786,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NOW. Piper Sandler boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Mizuho boosted their target price on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Needham & Company LLC raised their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $994.43.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin Thomas Mcbride sold 100 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the sale, the insider now owns 3,457 shares of the company’s stock, valued at approximately $3,539,864.29. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,329 shares of company stock worth $20,547,241. 0.25% of the stock is owned by insiders.

ServiceNow Trading Up 0.8 %

Shares of NOW stock opened at $1,049.44 on Monday. The firm’s 50-day simple moving average is $963.10 and its 200-day simple moving average is $847.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,072.84. The firm has a market cap of $216.18 billion, a P/E ratio of 163.21, a PEG ratio of 6.02 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

About ServiceNow

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.