ServiceNow, Inc. $NOW Stock Holdings Lifted by WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST

Key Points

• WELLCOME TRUST LTD increased its stake in ServiceNow by 5.9%, now holding approximately 450,000 shares valued at about $462.6 million.
• Multiple analysts have issued upgrades with price targets ranging from $1,100 to $1,300, reflecting positive sentiment towards ServiceNow's stock.
• CEO William R. Mcdermott sold over 5,800 shares at an average price of $916.63, significantly reducing their ownership by 46.83%.

WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,000 shares of the information technology services provider's stock after purchasing an additional 25,000 shares during the quarter. ServiceNow makes up approximately 5.3% of WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST's holdings, making the stock its 8th biggest position. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST owned about 0.22% of ServiceNow worth $462,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC boosted its stake in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the 1st quarter worth about $26,000. WASHINGTON TRUST Co lifted its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the last quarter. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow during the 2nd quarter worth about $30,000. Finally, Dagco Inc. acquired a new position in shares of ServiceNow during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Oppenheimer reissued an "outperform" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Citigroup upped their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Raymond James Financial upped their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group upped their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,122.20.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the 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 $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock worth $16,798,825 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

ServiceNow Trading Up 0.3%

Shares of NOW opened at $917.21 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. 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 stock has a 50 day simple moving average of $909.72 and a 200-day simple moving average of $931.43. The stock has a market cap of $190.78 billion, a PE ratio of 115.52, a PEG ratio of 4.12 and a beta of 0.92.

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

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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