First United Bank & Trust Increases Stake in ServiceNow, Inc. (NYSE:NOW)

First United Bank & Trust grew its stake in ServiceNow, Inc. (NYSE:NOW) by 53.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 722 shares of the information technology services provider’s stock after purchasing an additional 252 shares during the period. First United Bank & Trust’s holdings in ServiceNow were worth $765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. raised its position in shares of ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares during the period. Catalyst Financial Partners LLC raised its holdings in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network boosted its position in ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the period. Finally, BluePointe Capital Management LLC increased its position in shares of ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock valued at $21,016,751 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of a number of research analyst reports. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Robert W. Baird boosted their target price on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC raised their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,080.38.

ServiceNow Stock Performance

NYSE NOW opened at $1,072.02 on Tuesday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a market capitalization of $220.84 billion, a P/E ratio of 166.72, a PEG ratio of 4.85 and a beta of 0.99. The business has a 50 day moving average price of $1,069.67 and a 200 day moving average price of $933.26. 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 (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current fiscal 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.