Dorsey & Whitney Trust CO LLC Raises Stock Holdings in ServiceNow, Inc. $NOW

Dorsey & Whitney Trust CO LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 28.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,888 shares of the information technology services provider’s stock after purchasing an additional 636 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in ServiceNow were worth $2,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC boosted its stake in ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after acquiring an additional 12,533 shares during the last quarter. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at about $1,820,000. Corient IA LLC acquired a new stake in ServiceNow during the first quarter worth about $796,000. ASR Vermogensbeheer N.V. bought a new position in ServiceNow in the first quarter worth about $19,278,000. Finally, Nicholas Investment Partners LP boosted its stake in ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock valued at $2,974,000 after acquiring an additional 1,938 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 0.5%

NOW opened at $891.2530 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $185.38 billion, a PE ratio of 112.25, a P/E/G ratio of 4.00 and a beta of 0.93. The stock’s fifty day moving average is $959.60 and its 200-day moving average is $931.56. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm posted $3.13 EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the sale, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Jackson sold 757 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total value of $749,808.50. Following the sale, the director directly owned 588 shares of the company’s stock, valued at approximately $582,414. This represents a 56.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,361 shares of company stock valued at $10,579,976 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Oppenheimer reaffirmed 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. TD Securities reiterated a “buy” rating and issued a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $1,003.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,115.20.

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.