Security National Bank Purchases 772 Shares of ServiceNow, Inc. $NOW

Key Points

• Security National Bank increased its stake in ServiceNow by 14.5%, owning 6,088 shares now valued at $6,259,000 as of the latest SEC filing.
• ServiceNow reported earnings of $4.09 EPS for the last quarter, exceeding estimates by $0.52, with revenues reaching $3.22 billion—a 22.4% increase year-over-year.
• Insider trading activities included Vice Chairman Nicholas Tzitzon and CEO William R. Mcdermott selling significant shares of ServiceNow, reducing their holdings by 36.43% and 46.83% respectively.

Security National Bank boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,088 shares of the information technology services provider's stock after buying an additional 772 shares during the period. ServiceNow makes up about 1.1% of Security National Bank's investment portfolio, making the stock its 25th largest position. Security National Bank's holdings in ServiceNow were worth $6,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bogart Wealth LLC raised 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 valued at $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in ServiceNow during the first quarter valued at about $26,000. WASHINGTON TRUST Co increased its stake in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares during the period. Dagco Inc. acquired a new stake in shares of ServiceNow during the 1st quarter worth approximately $33,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

NOW stock traded up $15.47 during midday trading on Friday, reaching $963.21. 2,806,372 shares of the company's stock traded hands, compared to its average volume of 1,416,023. The company has a 50-day simple moving average of $922.60 and a two-hundred day simple moving average of $923.43. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $200.35 billion, a price-to-earnings ratio of 121.31, a PEG ratio of 4.33 and a beta of 0.91. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

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

Analysts Set New Price Targets

Several research analysts recently commented on NOW shares. Oppenheimer reaffirmed an "outperform" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Citigroup raised their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Barclays set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Finally, Raymond James Financial lifted their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the sale, the insider owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,976 shares of company stock valued at $17,049,775. Insiders own 0.38% of the company's stock.

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.