Central Bank & Trust Co. Increases Position in ServiceNow, Inc. (NYSE:NOW)

Central Bank & Trust Co. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 123.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,229 shares of the information technology services provider's stock after buying an additional 1,233 shares during the period. Central Bank & Trust Co.'s holdings in ServiceNow were worth $1,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of ServiceNow by 1.1% in the 4th 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 during the period. Union Bancaire Privee UBP SA acquired a new stake in ServiceNow in the fourth quarter valued at $48,802,000. GHP Investment Advisors Inc. increased its position in shares of ServiceNow by 9.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 210 shares of the information technology services provider's stock valued at $223,000 after buying an additional 18 shares in the last quarter. Leo Wealth LLC raised its stake in shares of ServiceNow by 7.8% during the 4th quarter. Leo Wealth LLC now owns 275 shares of the information technology services provider's stock worth $292,000 after buying an additional 20 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth about $621,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America cut their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Citigroup raised their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley upped their target price on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Jefferies Financial Group dropped their price target on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Raymond James cut their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Price Performance

NYSE NOW opened at $1,030.70 on Friday. The firm has a market capitalization of $213.34 billion, a PE ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company's 50 day simple moving average is $919.44 and its 200 day simple moving average is $974.63.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock worth $6,611,245 in the last three months. 0.38% of the stock is currently owned by insiders.

ServiceNow Company 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.

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