Philadelphia Trust Co. Has $2.16 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Philadelphia Trust Co. decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,927 shares of the information technology services provider’s stock after selling 66 shares during the period. Philadelphia Trust Co.’s holdings in ServiceNow were worth $2,162,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Lumature Wealth Partners LLC bought a new position in ServiceNow during the 4th quarter worth approximately $422,000. LifePro Asset Management boosted its stake in ServiceNow by 17.0% during the 4th quarter. LifePro Asset Management now owns 21,474 shares of the information technology services provider’s stock worth $11,820,000 after acquiring an additional 3,124 shares during the last quarter. Greenleaf Trust lifted its stake in ServiceNow by 10.6% in the fourth quarter. Greenleaf Trust now owns 1,467 shares of the information technology services provider’s stock valued at $807,000 after buying an additional 140 shares in the last quarter. New England Investment & Retirement Group Inc. lifted its stake in ServiceNow by 19.1% in the fourth quarter. New England Investment & Retirement Group Inc. now owns 3,781 shares of the information technology services provider’s stock valued at $2,081,000 after buying an additional 607 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its stake in ServiceNow by 11.0% in the fourth quarter. CIBC World Markets Inc. now owns 29,401 shares of the information technology services provider’s stock valued at $16,183,000 after buying an additional 2,910 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.

NOW has been the topic of a number of research reports. OTR Global raised shares of ServiceNow to a “positive” rating in a research note on Friday, January 22nd. Barclays boosted their price objective on shares of ServiceNow from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Cowen boosted their price objective on shares of ServiceNow from $600.00 to $620.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and set a $652.00 price objective on the stock in a research report on Thursday, November 12th. Finally, Needham & Company LLC boosted their price objective on shares of ServiceNow from $538.00 to $595.00 and gave the stock a “buy” rating in a research report on Thursday, January 28th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and an average price target of $566.86.

In related news, insider Chirantan Jitendra Desai sold 1,563 shares of the company’s stock in a transaction that occurred on Monday, December 14th. The stock was sold at an average price of $535.00, for a total value of $836,205.00. Following the completion of the transaction, the insider now directly owns 33,216 shares of the company’s stock, valued at $17,770,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fay Sien Goon sold 139 shares of the company’s stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $572.37, for a total value of $79,559.43. Following the completion of the transaction, the insider now directly owns 3,930 shares of the company’s stock, valued at $2,249,414.10. The disclosure for this sale can be found here. Insiders have sold 87,312 shares of company stock worth $47,048,637 over the last quarter. Insiders own 1.00% of the company’s stock.

NYSE NOW opened at $550.26 on Tuesday. The stock has a market capitalization of $107.91 billion, a price-to-earnings ratio of 155.88, a PEG ratio of 12.70 and a beta of 1.14. ServiceNow, Inc. has a twelve month low of $238.93 and a twelve month high of $598.37. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $551.34 and a 200 day moving average of $511.10.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 27th. The information technology services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. ServiceNow had a return on equity of 9.79% and a net margin of 16.60%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 1.11 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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