Nixon Peabody Trust Co. Raises Position in ServiceNow, Inc. (NYSE:NOW)

Nixon Peabody Trust Co. increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 22.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,852 shares of the information technology services provider's stock after purchasing an additional 1,419 shares during the period. Nixon Peabody Trust Co.'s holdings in ServiceNow were worth $6,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Quarry LP purchased a new stake in shares of ServiceNow during the 4th quarter valued at $27,000. Atala Financial Inc bought a new stake in ServiceNow during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the 4th quarter worth about $32,000. Noble Wealth Management PBC bought a new position in shares of ServiceNow during the 4th quarter valued at about $34,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after buying an additional 29 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider now owns 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $3,096,621. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating for the company. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Citigroup increased their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,048.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $5.07 during trading on Thursday, reaching $1,017.81. 902,286 shares of the company traded hands, compared to its average volume of 1,490,367. The firm has a 50 day simple moving average of $910.63 and a 200-day simple moving average of $974.82. ServiceNow, Inc. has a 52-week low of $676.19 and a 52-week high of $1,198.09. The stock has a market capitalization of $210.67 billion, a PE ratio of 149.02, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 EPS. Equities research analysts anticipate 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.