First United Bank & Trust Purchases 145 Shares of ServiceNow, Inc. $NOW

First United Bank & Trust boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 20.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 867 shares of the information technology services provider’s stock after buying an additional 145 shares during the quarter. First United Bank & Trust’s holdings in ServiceNow were worth $891,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NOW. Global X Japan Co. Ltd. purchased a new position in shares of ServiceNow in the 2nd quarter valued at approximately $30,000. Bogart Wealth LLC increased its stake in ServiceNow by 113.3% during the 1st 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 in the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow in the first quarter worth $26,000. WASHINGTON TRUST Co lifted 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 buying an additional 31 shares during the period. Finally, Dagco Inc. purchased a new stake in shares of ServiceNow during the first quarter valued at $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $940.05 on Tuesday. The stock has a 50 day moving average of $919.33 and a two-hundred day moving average of $928.48. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm has a market cap of $195.53 billion, a P/E ratio of 118.39, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. 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. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets boosted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Citigroup increased their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Oppenheimer restated an “outperform” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, DA Davidson upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.