ServiceNow, Inc. (NYSE:NOW) Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOW. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in ServiceNow during the 2nd quarter worth about $218,786,000. Canada Pension Plan Investment Board grew its stake in ServiceNow by 59.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock valued at $500,258,000 after purchasing an additional 237,086 shares during the last quarter. abrdn plc increased its holdings in shares of ServiceNow by 110.2% in the third quarter. abrdn plc now owns 442,382 shares of the information technology services provider’s stock valued at $392,477,000 after purchasing an additional 231,900 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of ServiceNow by 873.1% in the third quarter. Daiwa Securities Group Inc. now owns 245,525 shares of the information technology services provider’s stock worth $219,596,000 after purchasing an additional 220,295 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Truist Financial boosted their target price on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Piper Sandler increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $989.07.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 2.7 %

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

ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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 firm had revenue of $2.80 billion for 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%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 earnings per share. Research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share 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.