Diversified Trust Co Sells 471 Shares of ServiceNow, Inc. $NOW

Key Points

• Diversified Trust Co has reduced its holdings in ServiceNow, Inc. by 5.5%, now owning 8,023 shares valued at approximately $8.25 million.
• Wall Street analysts have issued positive ratings for ServiceNow, boosting their price targets, with estimates reaching as high as $1,250 and an average rating of "Moderate Buy."
• Insider trading activity shows significant sales, with CFO Gina Mastantuono selling 1,762 shares at around $866.45 per share, marking a 12.59% decrease in her holdings.

Diversified Trust Co reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,023 shares of the information technology services provider's stock after selling 471 shares during the period. Diversified Trust Co's holdings in ServiceNow were worth $8,248,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its holdings in ServiceNow by 113.3% during 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 during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow during the first quarter valued at approximately $26,000. WASHINGTON TRUST Co increased 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. Dagco Inc. bought a new position in ServiceNow in the 1st quarter worth approximately $33,000. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the 4th quarter worth $37,000. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on NOW. Jefferies Financial Group upped their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Piper Sandler upped their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Raymond James Financial increased their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Guggenheim reiterated a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a report on Thursday, July 17th. Finally, Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,115.20.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company's stock, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Performance

ServiceNow stock traded up $15.47 during trading hours on Friday, hitting $963.21. The company had a trading volume of 2,806,372 shares, compared to its average volume of 1,416,023. The firm has a market cap of $200.35 billion, a PE ratio of 121.31, a PEG ratio of 4.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The firm has a 50-day moving average of $922.60 and a 200 day moving average of $923.43.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly 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. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.13 EPS. On average, sell-side analysts expect 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.