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

Key Points

• Whittier Trust Co. of Nevada Inc. increased its stake in ServiceNow, Inc. by 3.0%, acquiring an additional 1,185 shares, bringing its total to 40,560 shares valued at approximately $41.7 million.
• Several institutional investors, including Global X Japan and Bogart Wealth LLC, have also modified their holdings in ServiceNow during the 2nd quarter, reflecting a strong interest from institutional investors as they own 87.18% of the stock.
• Insider trading activity included Vice Chairman Nicholas Tzitzon selling 1,719 shares at around $866.45, which was a 36.43% decrease in his holdings, and Director Anita M. Sands selling 1,097 shares at $915.11.

Whittier Trust Co. of Nevada Inc. grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,560 shares of the information technology services provider's stock after purchasing an additional 1,185 shares during the period. ServiceNow makes up approximately 0.9% of Whittier Trust Co. of Nevada Inc.'s holdings, making the stock its 18th largest holding. Whittier Trust Co. of Nevada Inc.'s holdings in ServiceNow were worth $41,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow in the 2nd quarter valued at about $30,000. LGT Financial Advisors LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at about $32,000. Bogart Wealth LLC lifted its stake in shares of ServiceNow by 113.3% in the 1st 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. acquired a new position in shares of ServiceNow in the 1st quarter valued at about $26,000. Finally, Richardson Financial Services Inc. lifted its position in ServiceNow by 50.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider's stock worth $33,000 after acquiring an additional 11 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares of the company's stock, valued at $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,737 shares of company stock worth $16,798,825. Corporate insiders own 0.38% of the company's stock.

ServiceNow Price Performance

NOW stock opened at $918.17 on Tuesday. 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 52-week low of $678.66 and a 52-week high of $1,198.09. The stock's 50 day moving average is $911.55 and its two-hundred day moving average is $938.10. The company has a market capitalization of $190.98 billion, a PE ratio of 115.64, a P/E/G ratio of 4.07 and a beta of 0.92.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $3.13 EPS. ServiceNow's revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOW shares. Jefferies Financial Group boosted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Weiss Ratings reissued a "hold (c)" rating on shares of ServiceNow in a research report on Wednesday, October 8th. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. Guggenheim reissued a "sell" rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Finally, Morgan Stanley raised ServiceNow from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,121.37.

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.

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