ServiceNow, Inc. $NOW Holdings Raised by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,560 shares of the information technology services provider’s stock after acquiring an additional 1,185 shares during the quarter. ServiceNow makes up approximately 0.9% of Whittier Trust Co. of Nevada Inc.’s holdings, making the stock its 18th largest position. Whittier Trust Co. of Nevada Inc.’s holdings in ServiceNow were worth $41,699,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC bought a new position in ServiceNow during the 1st quarter worth $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake 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 buying an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares during the last quarter. Parnassus Investments LLC bought a new position in ServiceNow during the 1st quarter worth $519,806,000. Finally, Amundi grew its stake in ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after buying an additional 626,623 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NOW. Needham & Company LLC upped their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Cantor Fitzgerald restated an “overweight” rating and set a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Jefferies Financial Group boosted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded ServiceNow from a “hold” rating to a “buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,121.37.

ServiceNow Trading Up 1.6%

Shares of ServiceNow stock opened at $918.17 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $190.98 billion, a price-to-earnings ratio of 115.64, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92. The business has a fifty day simple moving average of $911.55 and a 200-day simple moving average of $938.10. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.13 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 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.