Private Trust Co. NA Buys 257 Shares of ServiceNow, Inc. $NOW

Private Trust Co. NA grew its stake in ServiceNow, Inc. (NYSE:NOW) by 45.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 817 shares of the information technology services provider’s stock after acquiring an additional 257 shares during the quarter. Private Trust Co. NA’s holdings in ServiceNow were worth $839,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Haverford Trust Co increased its stake in shares of ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after acquiring an additional 10 shares during the last quarter. Ascent Group LLC increased its stake in shares of ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after acquiring an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. increased its stake in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 11 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in shares of ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after acquiring an additional 11 shares during the last quarter. Finally, one8zero8 LLC increased its stake in shares of ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 11 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOW shares. UBS Group decreased their price objective on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup boosted their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Wall Street Zen upgraded ServiceNow from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays set a $1,210.00 price objective on ServiceNow in a research report on Thursday, July 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday, October 8th. Two investment analysts have 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,121.37.

ServiceNow Trading Up 1.1%

NYSE:NOW opened at $904.57 on Friday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. 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 business has a 50 day moving average price of $910.30 and a two-hundred day moving average price of $935.59. The company has a market cap of $188.15 billion, a P/E ratio of 113.93, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm 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 firm posted $3.13 EPS. The business’s revenue was up 22.4% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was 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 represents a 36.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were 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 directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. The trade was a 46.83% 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 worth $16,798,825 in the last quarter. 0.38% of the stock is owned by company insiders.

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.