Blue Trust Inc. Raises Holdings in ServiceNow, Inc. $NOW

Blue Trust Inc. grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,490 shares of the information technology services provider’s stock after purchasing an additional 126 shares during the quarter. Blue Trust Inc.’s holdings in ServiceNow were worth $1,532,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Haverford Trust Co grew its holdings in shares of ServiceNow by 0.9% during the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after purchasing an additional 10 shares during the last quarter. Ascent Group LLC grew its holdings in shares of ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after purchasing an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. grew its holdings in shares of ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after purchasing an additional 11 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after buying an additional 11 shares during the period. Finally, one8zero8 LLC boosted its stake in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 3.2%

Shares of ServiceNow stock opened at $888.63 on Friday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $184.84 billion, a PE ratio of 111.92, a price-to-earnings-growth ratio of 4.13 and a beta of 0.92. The company has a 50-day moving average of $909.21 and a two-hundred day moving average of $931.62.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.12 billion. During the same period last year, the company posted $3.13 earnings per share. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The shares were 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 trade represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock valued at $16,798,825 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Guggenheim reiterated a “sell” rating and set a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. Barclays set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. DA Davidson increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Raymond James Financial boosted their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average 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.