Fiduciary Trust Co Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Fiduciary Trust Co increased its position in ServiceNow, Inc. (NYSE:NOW) by 23.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,557 shares of the information technology services provider’s stock after acquiring an additional 1,047 shares during the quarter. Fiduciary Trust Co’s holdings in ServiceNow were worth $4,970,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC increased its holdings in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC grew its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after buying an additional 765 shares in the last quarter. AXA S.A. increased its stake in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the last quarter. HWG Holdings LP purchased a new stake in shares of ServiceNow in the 2nd quarter valued at about $2,679,000. Finally, Brookstone Capital Management boosted its position in shares of ServiceNow by 25.5% during the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock valued at $10,595,000 after acquiring an additional 2,928 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,041.40 on Friday. The business has a fifty day moving average price of $960.84 and a 200-day moving average price of $843.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $214.53 billion, a PE ratio of 161.96, a PEG ratio of 5.98 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,072.84.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the business earned $1.21 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of several research analyst reports. Mizuho upped their price objective on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Barclays increased their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group upped their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $989.07.

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.