Citizens National Bank Trust Department Cuts Position in ServiceNow, Inc. $NOW

Citizens National Bank Trust Department trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 0.8% in the second quarter, Holdings Channel.com reports. The fund owned 3,675 shares of the information technology services provider’s stock after selling 29 shares during the period. Citizens National Bank Trust Department’s holdings in ServiceNow were worth $3,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC increased its holdings in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co raised its position 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 valued at $29,000 after buying an additional 31 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of ServiceNow during the second quarter valued at approximately $30,000. Finally, Dagco Inc. acquired a new stake in ServiceNow during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $905.41 on Wednesday. The company has a market cap of $188.32 billion, a price-to-earnings ratio of 114.03, a price-to-earnings-growth ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. 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 stock’s 50-day moving average is $911.49 and its 200-day moving average is $931.09.

ServiceNow (NYSE:NOWGet Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) 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 business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the business earned $3.13 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the transaction, the director owned 9,307 shares of the company’s stock, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the transaction, the insider owned 457 shares in the company, valued at $409,037.85. The trade was a 76.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on NOW. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Mizuho lifted their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Citigroup raised their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

Check Out Our Latest Analysis on NOW

ServiceNow Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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