Trinity Legacy Partners LLC Has $6.60 Million Stock Holdings in ServiceNow, Inc. $NOW

Trinity Legacy Partners LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 0.3% during the second quarter, HoldingsChannel.com reports. The firm owned 6,820 shares of the information technology services provider’s stock after selling 20 shares during the period. ServiceNow makes up about 1.6% of Trinity Legacy Partners LLC’s holdings, making the stock its 18th biggest holding. Trinity Legacy Partners LLC’s holdings in ServiceNow were worth $6,595,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow in the 2nd quarter valued at $30,000. Bogart Wealth LLC lifted its stake in shares of ServiceNow by 113.3% in 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 during the period. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the 1st quarter valued at $26,000. WASHINGTON TRUST Co lifted its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares during the period. Finally, Dagco Inc. acquired a new position in shares of ServiceNow in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NOW. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. DA Davidson raised their price objective 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. UBS Group dropped their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. FBN Securities raised ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

ServiceNow Stock Performance

NOW opened at $909.88 on Friday. The business’s 50-day moving average price is $915.79 and its two-hundred day moving average price is $928.77. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a market capitalization of $189.26 billion, a price-to-earnings ratio of 114.59, a P/E/G ratio of 4.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (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 for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the business posted $3.13 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the transaction, the director owned 9,307 shares in the company, valued at $8,516,928.77. This trade represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction dated 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 owned 457 shares of the company’s stock, valued at $409,037.85. The trade was a 76.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is currently owned by company insiders.

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.