Private Trust Co. NA Cuts Stake in ServiceNow, Inc. (NYSE:NOW)

Private Trust Co. NA lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 7.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 374 shares of the information technology services provider’s stock after selling 32 shares during the quarter. Private Trust Co. NA’s holdings in ServiceNow were worth $335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Catalyst Financial Partners LLC boosted its holdings in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the last quarter. First Affirmative Financial Network grew its holdings in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after buying an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 12 shares during the last quarter. BluePointe Capital Management LLC raised its holdings in shares of ServiceNow by 0.6% during the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after acquiring an additional 12 shares in the last quarter. Finally, Morling Financial Advisors LLC boosted its position in shares of ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Canaccord Genuity Group increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Truist Financial lifted their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Evercore ISI raised their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, TD Cowen lifted their target price on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $989.07.

ServiceNow Price Performance

Shares of NOW stock opened at $1,041.42 on Thursday. The stock has a market capitalization of $214.53 billion, a price-to-earnings ratio of 161.96, a P/E/G ratio of 6.04 and a beta of 0.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,072.84. The stock has a fifty day simple moving average of $958.40 and a two-hundred day simple moving average of $842.41.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,329 shares of company stock worth $20,547,241. Corporate insiders own 0.25% of the company’s stock.

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.