Fiduciary Trust Co Purchases 1,047 Shares of ServiceNow, Inc. (NYSE:NOW)

Fiduciary Trust Co lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 23.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,557 shares of the information technology services provider’s stock after buying an additional 1,047 shares during the period. Fiduciary Trust Co’s holdings in ServiceNow were worth $4,970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOW. Versant Capital Management Inc boosted its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. Truvestments Capital LLC purchased a new position in ServiceNow during the third quarter valued at $30,000. Ridgewood Investments LLC bought a new stake in ServiceNow during the second quarter valued at about $32,000. DT Investment Partners LLC increased its position in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares in the last quarter. Finally, American Capital Advisory LLC bought a new position in shares of ServiceNow in the second quarter worth about $39,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 2.7 %

Shares of NOW opened at $1,041.40 on Friday. The company’s fifty day simple moving average is $960.84 and its 200-day simple moving average is $843.79. The company has a market cap of $214.53 billion, a P/E ratio of 161.96, a P/E/G ratio of 5.98 and a beta of 0.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,072.84.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOW shares. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Jefferies Financial Group increased their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Robert W. Baird raised their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen boosted their price objective on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One research 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, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $989.07.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. This represents a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,329 shares of company stock worth $20,547,241 over the last quarter. Company insiders own 0.25% of the company’s stock.

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.