Orrstown Financial Services Inc. Buys 111 Shares of ServiceNow, Inc. (NYSE:NOW)

Orrstown Financial Services Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 18.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 726 shares of the information technology services provider’s stock after acquiring an additional 111 shares during the quarter. Orrstown Financial Services Inc.’s holdings in ServiceNow were worth $649,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in ServiceNow by 10.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 62,941 shares of the information technology services provider’s stock worth $56,294,000 after acquiring an additional 5,909 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of ServiceNow by 8.9% in the third quarter. TCI Wealth Advisors Inc. now owns 1,180 shares of the information technology services provider’s stock valued at $1,055,000 after purchasing an additional 96 shares in the last quarter. Concord Wealth Partners increased its position in ServiceNow by 8.3% in the third quarter. Concord Wealth Partners now owns 1,314 shares of the information technology services provider’s stock worth $1,175,000 after purchasing an additional 101 shares during the last quarter. Forbes J M & Co. LLP raised its stake in ServiceNow by 0.9% during the third quarter. Forbes J M & Co. LLP now owns 5,403 shares of the information technology services provider’s stock valued at $4,832,000 after purchasing an additional 48 shares in the last quarter. Finally, Kercheville Advisors LLC lifted its position in ServiceNow by 4.5% during the third quarter. Kercheville Advisors LLC now owns 345 shares of the information technology services provider’s stock valued at $309,000 after purchasing an additional 15 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now directly owns 10,767 shares in the company, valued at $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the sale, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock valued at $4,450,447 in the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.6 %

ServiceNow stock opened at $945.44 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $194.76 billion, a P/E ratio of 147.04, a P/E/G ratio of 5.67 and a beta of 0.99. The business has a fifty day moving average of $887.83 and a two-hundred day moving average of $798.89. ServiceNow, Inc. has a twelve month low of $558.09 and a twelve month high of $979.78.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. UBS Group boosted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Mizuho upped their price objective on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their target price on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Guggenheim restated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Finally, BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $970.33.

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.