Equitable Trust Co. Decreases Position in ServiceNow, Inc. $NOW

Equitable Trust Co. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,368 shares of the information technology services provider’s stock after selling 20 shares during the quarter. Equitable Trust Co.’s holdings in ServiceNow were worth $5,519,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow in the second quarter worth $30,000. Bogart Wealth LLC raised its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the first quarter worth $26,000. Richardson Financial Services Inc. raised its holdings in shares of ServiceNow by 50.0% in the second quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock worth $33,000 after acquiring an additional 11 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. DA Davidson boosted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Bank of America upped their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. BMO Capital Markets upped their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. UBS Group set a $1,075.00 target price on ServiceNow and gave the company a “buy” rating in a research note on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,121.37.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction dated 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 completion of the transaction, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at $2,622,744.15. This represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 in the last three months. 0.38% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $923.44 on Tuesday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The business has a 50-day moving average of $909.24 and a 200-day moving average of $933.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $192.07 billion, a price-to-earnings ratio of 116.30, a PEG ratio of 4.00 and a beta of 0.92.

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

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.