ServiceNow, Inc. $NOW Shares Acquired by Whittier Trust Co.

Key Points

• Whittier Trust Co. increased its stake in ServiceNow, Inc. by 8.4%, owning 99,643 shares valued at approximately $102.4 million, making it the firm's 15th largest position.
• ServiceNow reported $4.09 EPS for its latest quarter, surpassing estimates of $3.57, with revenue reaching $3.22 billion, a 22.4% year-over-year increase.
• ServiceNow stock has a market cap of $190.98 billion and saw a recent target price increase from analysts, with a consensus average target of $1,121.37.

Whittier Trust Co. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,643 shares of the information technology services provider's stock after purchasing an additional 7,701 shares during the quarter. ServiceNow makes up approximately 1.2% of Whittier Trust Co.'s holdings, making the stock its 15th largest position. Whittier Trust Co.'s holdings in ServiceNow were worth $102,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Probity Advisors Inc. boosted its position in ServiceNow by 13.8% during the 2nd quarter. Probity Advisors Inc. now owns 1,096 shares of the information technology services provider's stock valued at $1,127,000 after purchasing an additional 133 shares during the period. Liberty One Investment Management LLC boosted its position in ServiceNow by 13.2% during the 2nd quarter. Liberty One Investment Management LLC now owns 378 shares of the information technology services provider's stock valued at $389,000 after purchasing an additional 44 shares during the period. LGT Financial Advisors LLC acquired a new position in ServiceNow during the 2nd quarter valued at approximately $32,000. Klingman & Associates LLC increased its position in ServiceNow by 22.2% in the 2nd quarter. Klingman & Associates LLC now owns 533 shares of the information technology services provider's stock valued at $548,000 after acquiring an additional 97 shares during the period. Finally, Phoenix Financial Ltd. increased its position in ServiceNow by 174.1% in the 2nd quarter. Phoenix Financial Ltd. now owns 2,541 shares of the information technology services provider's stock valued at $2,612,000 after acquiring an additional 1,614 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Up 1.6%

Shares of NOW stock opened at $918.17 on Tuesday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The stock has a market cap of $190.98 billion, a PE ratio of 115.64, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92. The business's fifty day moving average is $911.55 and its 200-day moving average is $938.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) 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 analysts' expectations of $3.12 billion. During the same period last year, the firm earned $3.13 EPS. The firm's revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on NOW shares. Oppenheimer restated 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. JMP Securities restated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. Raymond James Financial raised their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC raised their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,121.37.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. The trade was a 46.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 in the last quarter. Company insiders own 0.38% of the company's stock.

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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