Sabal Trust CO Buys New Stake in ServiceNow, Inc. (NYSE:NOW)

Sabal Trust CO acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 986 shares of the information technology services provider's stock, valued at approximately $785,000.

A number of other institutional investors have also recently made changes to their positions in the company. Western Wealth Management LLC grew its position in shares of ServiceNow by 3.7% during the first quarter. Western Wealth Management LLC now owns 3,294 shares of the information technology services provider's stock valued at $2,622,000 after purchasing an additional 118 shares in the last quarter. Terra Nova Asset Management LLC bought a new position in shares of ServiceNow in the 1st quarter valued at about $1,709,000. Pure Financial Advisors LLC lifted its holdings in shares of ServiceNow by 9.2% in the 1st quarter. Pure Financial Advisors LLC now owns 856 shares of the information technology services provider's stock valued at $681,000 after acquiring an additional 72 shares during the last quarter. Security National Bank lifted its holdings in shares of ServiceNow by 20.7% in the 1st quarter. Security National Bank now owns 5,316 shares of the information technology services provider's stock valued at $4,232,000 after acquiring an additional 912 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in shares of ServiceNow by 8.7% in the 1st quarter. Perigon Wealth Management LLC now owns 5,248 shares of the information technology services provider's stock valued at $4,178,000 after acquiring an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Morgan Stanley increased their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Guggenheim increased their price target on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a report on Thursday, April 24th. Finally, Raymond James Financial lowered their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,065.32.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the sale, the director now directly owns 10,643 shares in the company, valued at approximately $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Up 1.2%

NYSE NOW traded up $12.12 on Friday, hitting $1,023.56. The stock had a trading volume of 1,514,258 shares, compared to its average volume of 1,486,132. The business's fifty day moving average price is $985.61 and its 200 day moving average price is $967.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a market cap of $211.86 billion, a price-to-earnings ratio of 139.07, a price-to-earnings-growth ratio of 4.65 and a beta of 0.95.

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

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.