Greenleaf Trust Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Greenleaf Trust increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,156 shares of the information technology services provider's stock after acquiring an additional 295 shares during the quarter. Greenleaf Trust's holdings in ServiceNow were worth $3,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NOW. Quarry LP bought a new stake in shares of ServiceNow in the fourth quarter worth about $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $28,000. WASHINGTON TRUST Co grew its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $32,000. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,955 shares of company stock valued at $6,862,195. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Down 3.2%

ServiceNow stock traded down $30.97 during trading hours on Friday, hitting $937.12. The stock had a trading volume of 2,144,933 shares, compared to its average volume of 1,483,800. The stock's 50-day moving average price is $1,008.08 and its 200-day moving average price is $960.59. The stock has a market capitalization of $193.97 billion, a P/E ratio of 127.33, a price-to-earnings-growth ratio of 4.45 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last released 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. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the firm posted $3.41 EPS. The firm's quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. DA Davidson started coverage on shares of ServiceNow in a research report on Wednesday, June 25th. They issued a "buy" rating and a $1,150.00 target price for the company. Jefferies Financial Group cut their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a research note on Tuesday. Finally, Needham & Company LLC restated a "buy" rating and issued a $1,050.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.