Dorsey & Whitney Trust CO LLC Has $2.30 Million Position in ServiceNow, Inc. $NOW

Key Points

• Dorsey & Whitney Trust CO LLC increased its stake in ServiceNow, Inc. by 28.2% during the first quarter, now holding shares valued at $2,299,000.
• ServiceNow reported earnings per share of $4.09 for the last quarter, exceeding expectations, with revenue reaching $3.22 billion.
• Institutional investors own 87.18% of ServiceNow's stock, reflecting strong institutional interest in the company.

Dorsey & Whitney Trust CO LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 28.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,888 shares of the information technology services provider's stock after purchasing an additional 636 shares during the period. Dorsey & Whitney Trust CO LLC's holdings in ServiceNow were worth $2,299,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of ServiceNow in the fourth quarter valued at $27,000. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow in the first quarter valued at $26,000. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter valued at $37,000. Finally, WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NOW shares. Raymond James Financial increased their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Bank of America increased their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. DA Davidson increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and increased their price objective for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. Finally, FBN Securities upgraded ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 1,562 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the sale, the insider directly owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 1,585 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $900.00, for a total value of $1,426,500.00. Following the completion of the sale, the chief executive officer directly owned 12,439 shares in the company, valued at approximately $11,195,100. This represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,096 shares of company stock valued at $14,807,562 in the last quarter. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 1.0%

NYSE NOW traded up $8.8230 during trading on Friday, hitting $885.7930. 1,083,474 shares of the company traded hands, compared to its average volume of 1,866,238. 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 simple moving average of $955.00 and a 200 day simple moving average of $929.70. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $184.24 billion, a P/E ratio of 111.56, a PEG ratio of 3.95 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company earned $3.13 earnings per share. The business's revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.