Coastline Trust Co Purchases 2,342 Shares of ServiceNow, Inc. (NYSE:NOW)

Coastline Trust Co increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 4,037.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,400 shares of the information technology services provider's stock after purchasing an additional 2,342 shares during the period. Coastline Trust Co's holdings in ServiceNow were worth $1,911,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NOW. Brighton Jones LLC increased its holdings in shares of ServiceNow by 1.1% during 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 last quarter. Proficio Capital Partners LLC lifted its holdings in ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Modera Wealth Management LLC boosted its position in ServiceNow by 22.7% during the fourth quarter. Modera Wealth Management LLC now owns 335 shares of the information technology services provider's stock worth $355,000 after purchasing an additional 62 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of ServiceNow by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,477 shares of the information technology services provider's stock valued at $27,009,000 after purchasing an additional 617 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ServiceNow by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,292,922 shares of the information technology services provider's stock valued at $1,370,652,000 after purchasing an additional 56,585 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

NYSE NOW traded down $3.11 on Wednesday, hitting $1,008.78. 871,420 shares of the company's stock were exchanged, compared to its average volume of 1,481,334. The stock has a 50-day moving average of $995.96 and a 200-day moving average of $964.39. The stock has a market cap of $208.80 billion, a price-to-earnings ratio of 137.06, a P/E/G ratio of 4.72 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company earned $3.41 EPS. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares of the company's stock, valued at $3,060,000. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the sale, the director directly owned 10,891 shares in the company, valued at approximately $11,039,226.51. The trade was a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock valued at $6,611,245. Corporate insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOW shares. Raymond James Financial cut their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird raised their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Royal Bank Of Canada boosted their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, UBS Group reissued a "buy" rating and set a $1,025.00 price target (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.