Sanibel Captiva Trust Company Inc. Has $12.13 Million Position in ServiceNow, Inc. (NYSE:NOW)

Sanibel Captiva Trust Company Inc. cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,437 shares of the information technology services provider’s stock after selling 737 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in ServiceNow were worth $12,125,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bradley Foster & Sargent Inc. CT bought a new position in ServiceNow in the second quarter worth $256,000. Mercer Global Advisors Inc. ADV raised its stake in ServiceNow by 33.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 10,371 shares of the information technology services provider’s stock worth $8,159,000 after acquiring an additional 2,595 shares in the last quarter. Intech Investment Management LLC lifted its holdings in ServiceNow by 7.6% during the 2nd quarter. Intech Investment Management LLC now owns 6,388 shares of the information technology services provider’s stock valued at $5,025,000 after purchasing an additional 450 shares during the last quarter. Brighton Jones LLC raised its stake in shares of ServiceNow by 0.7% in the second quarter. Brighton Jones LLC now owns 2,959 shares of the information technology services provider’s stock valued at $2,328,000 after acquiring an additional 20 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in ServiceNow by 24.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,569 shares of the information technology services provider’s stock worth $7,528,000 after purchasing an additional 1,893 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 1.4 %

NYSE:NOW opened at $1,072.02 on Friday. The company has a market cap of $220.84 billion, a PE ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. The stock has a 50-day simple moving average of $1,068.39 and a 200 day simple moving average of $929.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NOW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group boosted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Cantor Fitzgerald initiated coverage on ServiceNow in a research report on Friday. They issued an “overweight” rating and a $1,332.00 price objective for the company. Sanford C. Bernstein upped their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets lifted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,080.38.

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.