First Merchants Corp Buys 160 Shares of ServiceNow, Inc. $NOW

First Merchants Corp increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,393 shares of the information technology services provider’s stock after acquiring an additional 160 shares during the period. First Merchants Corp’s holdings in ServiceNow were worth $11,713,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. Brighton Jones LLC raised its holdings in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares in the last quarter. Daymark Wealth Partners LLC raised its stake in ServiceNow by 42.9% in the first quarter. Daymark Wealth Partners LLC now owns 726 shares of the information technology services provider’s stock valued at $578,000 after buying an additional 218 shares during the period. Wealthcare Advisory Partners LLC raised its stake in ServiceNow by 3.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 5,756 shares of the information technology services provider’s stock valued at $4,583,000 after buying an additional 204 shares during the period. GAMMA Investing LLC raised its stake in ServiceNow by 10.0% in the first quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock valued at $2,689,000 after buying an additional 308 shares during the period. Finally, Simplicity Wealth LLC raised its stake in ServiceNow by 294.5% in the first quarter. Simplicity Wealth LLC now owns 1,495 shares of the information technology services provider’s stock valued at $1,190,000 after buying an additional 1,116 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several research analyst reports. 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. Guggenheim restated a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday. FBN Securities upgraded ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Finally, Citigroup upped their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company 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, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,122.20.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. This trade represents a 28.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s 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 trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

ServiceNow stock opened at $914.15 on Thursday. The stock’s fifty day moving average price is $910.23 and its two-hundred day moving average price is $930.97. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $190.14 billion, a PE ratio of 115.13, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92.

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, topping analysts’ consensus estimates 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 analyst estimates of $3.12 billion. During the same quarter last year, the company earned $3.13 EPS. The company’s revenue was up 22.4% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

About ServiceNow

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.