ServiceNow, Inc. $NOW Shares Purchased by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA increased its holdings in ServiceNow, Inc. by 100% during Q1, acquiring an additional 536 shares, bringing its total to 1,072 shares valued at approximately $853,000.
• Institutional investors heavily dominate ServiceNow, owning 87.18% of the company's stock, with significant increases in positions reported by GAMMA Investing LLC and OVERSEA CHINESE BANKING Corp Ltd this quarter.
• ServiceNow's stock recently opened at $913.29 and is trading between a one-year low of $678.66 and a high of $1,198.09, showing strong market interest and volatility.

Petrus Trust Company LTA increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 100.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,072 shares of the information technology services provider's stock after buying an additional 536 shares during the period. Petrus Trust Company LTA's holdings in ServiceNow were worth $853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Bogart Wealth LLC increased its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the first quarter worth $26,000. WASHINGTON TRUST Co increased its position in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares in the last quarter. Dagco Inc. acquired a new position in shares of ServiceNow during the first quarter worth $33,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter worth $37,000. Institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler upped their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley reaffirmed an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Needham & Company LLC upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Barclays set a $1,210.00 price target on ServiceNow in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,976 shares of company stock valued at $17,049,775. Insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

Shares of NOW traded up $14.73 during trading hours on Friday, reaching $913.29. 1,282,604 shares of the company traded hands, compared to its average volume of 1,771,618. The stock has a market capitalization of $189.96 billion, a P/E ratio of 115.02, a P/E/G ratio of 4.12 and a beta of 0.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The business has a fifty day moving average price of $936.79 and a 200-day moving average price of $922.19.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company's revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.13 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.