TOWER TRUST & INVESTMENT Co Boosts Stock Position in ServiceNow, Inc. $NOW

TOWER TRUST & INVESTMENT Co raised its stake in ServiceNow, Inc. (NYSE:NOW) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,041 shares of the information technology services provider’s stock after purchasing an additional 21 shares during the period. TOWER TRUST & INVESTMENT Co’s holdings in ServiceNow were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its stake in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow during the first quarter worth about $26,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of ServiceNow during the second quarter worth about $30,000. Finally, Dagco Inc. purchased a new stake in shares of ServiceNow during the first quarter worth about $33,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,825 shares of the 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the transaction, the insider directly owned 457 shares of the company’s stock, valued at approximately $409,037.85. This represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock worth $17,049,775 in the last 90 days. 0.38% of the stock is owned by insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $936.76 on Friday. The firm has a market cap of $194.85 billion, a PE ratio of 117.98, a PEG ratio of 4.14 and a beta of 0.91. The firm has a fifty day moving average of $919.74 and a 200 day moving average of $926.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.13 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. Barclays set a $1,210.00 price target on ServiceNow in a research note on Thursday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Guggenheim reiterated a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a research report on Thursday, July 17th. Mizuho upped their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Finally, DA Davidson boosted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

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.