ServiceNow, Inc. $NOW Shares Sold by Equitable Trust Co.

Equitable Trust Co. lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% during the 2nd quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. acquired a new stake in ServiceNow during the second quarter valued at approximately $30,000. Bogart Wealth LLC raised its position in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the 1st quarter worth approximately $26,000. Richardson Financial Services Inc. increased its position in ServiceNow by 50.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 11 shares during the period. Finally, WASHINGTON TRUST Co increased its position in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOW. Needham & Company LLC raised their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Raymond James Financial raised their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,121.37.

ServiceNow Stock Performance

NOW opened at $923.44 on Tuesday. The firm has a market cap of $192.07 billion, a PE ratio of 116.30, a P/E/G ratio of 4.00 and a beta of 0.92. 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 fifty day simple moving average of $909.24 and a 200-day simple moving average of $933.88. 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 released its quarterly earnings data 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. 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% compared to the same quarter last year. During the same period last year, the company posted $3.13 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. This trade represents a 76.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’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 sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is 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.