Grove Bank & Trust Decreases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Grove Bank & Trust trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,397 shares of the information technology services provider's stock after selling 1,197 shares during the quarter. Grove Bank & Trust's holdings in ServiceNow were worth $1,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after buying an additional 12,533 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow in the fourth quarter worth $48,802,000. FMR LLC increased its stake in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares during the period. Duncker Streett & Co. Inc. increased its stake in shares of ServiceNow by 4.8% in the fourth quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider's stock worth $6,759,000 after buying an additional 290 shares during the period. Finally, Nicholas Investment Partners LP increased its stake in shares of ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after buying an additional 1,938 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Barclays set a $1,085.00 target price on shares of ServiceNow in a report on Wednesday, May 7th. Mizuho upped their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Canaccord Genuity Group lowered their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Stock Performance

NOW opened at $1,005.27 on Tuesday. The stock has a market capitalization of $208.07 billion, a price-to-earnings ratio of 147.19, a PEG ratio of 4.51 and a beta of 0.95. The company has a fifty day moving average of $950.17 and a 200 day moving average of $972.18. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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

Insider Buying and Selling

In related news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction on 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 sale, the director now directly owns 10,891 shares in the company, valued at $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now owns 6,614 shares of the company's stock, 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. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 over the last three months. 0.38% of the stock is 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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