First American Trust FSB raised its position in ServiceNow Inc (NYSE:NOW) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,047 shares of the information technology services provider’s stock after purchasing an additional 126 shares during the period. First American Trust FSB’s holdings in ServiceNow were worth $1,967,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Alps Advisors Inc. bought a new stake in shares of ServiceNow during the 2nd quarter worth $288,000. Dimensional Fund Advisors LP lifted its holdings in shares of ServiceNow by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 167,342 shares of the information technology services provider’s stock worth $28,862,000 after acquiring an additional 1,442 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of ServiceNow during the 2nd quarter worth $887,000. Vident Investment Advisory LLC bought a new stake in shares of ServiceNow during the 2nd quarter worth $1,034,000. Finally, Marshall Wace LLP bought a new stake in shares of ServiceNow during the 2nd quarter worth $1,720,000. 93.90% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on NOW shares. Jefferies Financial Group started coverage on shares of ServiceNow in a report on Monday, October 1st. They set a “buy” rating and a $240.00 price objective for the company. Macquarie set a $210.00 price target on shares of ServiceNow and gave the stock a “buy” rating in a research note on Friday, October 12th. Needham & Company LLC assumed coverage on shares of ServiceNow in a research note on Monday, October 22nd. They issued a “buy” rating and a $224.00 price target for the company. Morgan Stanley lowered their price target on shares of ServiceNow from $198.00 to $188.00 and set an “overweight” rating for the company in a research note on Tuesday, October 23rd. Finally, ValuEngine downgraded shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $204.89.
ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.61. ServiceNow had a negative net margin of 2.52% and a negative return on equity of 2.93%. The company had revenue of $673.10 million for the quarter, compared to analysts’ expectations of $659.41 million. Research analysts anticipate that ServiceNow Inc will post 0.17 earnings per share for the current year.
In other ServiceNow news, insider Chirantan Jitendra Desai sold 2,031 shares of the company’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $175.20, for a total value of $355,831.20. Following the sale, the insider now owns 7,174 shares in the company, valued at $1,256,884.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO David Schneider sold 12,625 shares of the company’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $165.44, for a total transaction of $2,088,680.00. Following the completion of the sale, the executive now owns 45,821 shares in the company, valued at approximately $7,580,626.24. The disclosure for this sale can be found here. Insiders have sold 178,187 shares of company stock worth $30,520,157 in the last quarter. 1.60% of the stock is owned by corporate insiders.
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ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
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