Greenleaf Trust Sells 77 Shares of ServiceNow, Inc. $NOW

Greenleaf Trust lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,079 shares of the information technology services provider’s stock after selling 77 shares during the period. Greenleaf Trust’s holdings in ServiceNow were worth $4,194,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of ServiceNow during the 1st quarter worth $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd lifted its position in ServiceNow by 1,586.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after acquiring an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after acquiring an additional 840,731 shares during the period. Parnassus Investments LLC bought a new stake in ServiceNow during the first quarter valued at about $519,806,000. Finally, Amundi grew its position in shares of ServiceNow by 61.9% in the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after purchasing an additional 626,623 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $940.05 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50-day moving average of $919.33 and a 200-day moving average of $928.48. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a market capitalization of $195.53 billion, a price-to-earnings ratio of 118.39, a PEG ratio of 4.22 and a beta of 0.91.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm 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 quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.13 earnings per share. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on NOW. DA Davidson boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Piper Sandler upped their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. UBS Group reduced their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Finally, FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares of the company’s stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock worth $17,049,775 over the last three months. 0.38% of the stock is currently owned by insiders.

ServiceNow 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.