Enterprise Bank & Trust Co Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Enterprise Bank & Trust Co increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 99.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 691 shares of the information technology services provider's stock after buying an additional 344 shares during the period. Enterprise Bank & Trust Co's holdings in ServiceNow were worth $550,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NOW. Brighton Jones LLC lifted its holdings in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $48,802,000. Strategic Blueprint LLC raised its position in shares of ServiceNow by 16.4% in the fourth quarter. Strategic Blueprint LLC now owns 313 shares of the information technology services provider's stock valued at $332,000 after buying an additional 44 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $37,000. Finally, Chicago Partners Investment Group LLC raised its position in shares of ServiceNow by 3.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 749 shares of the information technology services provider's stock valued at $786,000 after buying an additional 23 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

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

ServiceNow Stock Performance

NOW stock traded up $15.36 on Thursday, hitting $1,028.10. The company's stock had a trading volume of 282,893 shares, compared to its average volume of 1,487,985. The firm has a 50 day moving average of $910.63 and a two-hundred day moving average of $974.82. ServiceNow, Inc. has a 1 year low of $676.19 and a 1 year high of $1,198.09. The stock has a market cap of $212.80 billion, a price-to-earnings ratio of 150.53, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 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 (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow's revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 EPS. Equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NOW. Piper Sandler reduced their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Mizuho reduced their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Raymond James reduced 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 report on Tuesday, April 8th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

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.