Orrstown Financial Services Inc. Purchases 13 Shares of ServiceNow, Inc. (NYSE:NOW)

Orrstown Financial Services Inc. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 739 shares of the information technology services provider’s stock after buying an additional 13 shares during the quarter. Orrstown Financial Services Inc.’s holdings in ServiceNow were worth $783,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth $30,000. DT Investment Partners LLC boosted its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the last quarter. Oakworth Capital Inc. increased its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares in the last quarter. Dunhill Financial LLC raised its position in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares during the last quarter. Finally, Vestor Capital LLC bought a new position in ServiceNow during the 3rd quarter valued at about $48,000. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOW. Sanford C. Bernstein lifted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen lifted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Raymond James started coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target on the stock. JMP Securities lifted their price objective on ServiceNow from $1,000.00 to $1,300.00 and gave the stock a “market outperform” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada increased their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,116.14.

Insider Activity

In related news, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The shares were 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 of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last quarter. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW traded down $22.88 during trading hours on Wednesday, reaching $1,147.51. The company’s stock had a trading volume of 200,378 shares, compared to its average volume of 1,264,499. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $236.39 billion, a price-to-earnings ratio of 178.61, a PEG ratio of 5.11 and a beta of 0.99. The firm’s 50-day moving average price is $1,082.77 and its 200-day moving average price is $950.94.

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.