ServiceNow, Inc. (NYSE:NOW) Stake Raised by Whittier Trust Co.

Whittier Trust Co. increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,942 shares of the information technology services provider's stock after acquiring an additional 15,715 shares during the period. ServiceNow comprises about 1.0% of Whittier Trust Co.'s holdings, making the stock its 15th largest holding. Whittier Trust Co.'s holdings in ServiceNow were worth $73,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Vanguard Group Inc. raised its position in ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after purchasing an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after acquiring an additional 509,467 shares during the period. FMR LLC grew its stake in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the period. Geode Capital Management LLC boosted its position in shares of ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after buying an additional 100,670 shares during the period. Finally, GAMMA Investing LLC raised its holdings in ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 145 shares of ServiceNow 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 $147,900.00. Following the transaction, the insider owned 3,027 shares in the company, valued at approximately $3,087,540. The trade was a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction on Friday, May 30th. The stock was 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 owned 3,000 shares in the company, valued at $3,060,000. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,955 shares of company stock valued at $6,862,195. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $961.88 on Tuesday. The company has a market cap of $199.09 billion, a PE ratio of 130.69, a price-to-earnings-growth ratio of 4.31 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50-day simple moving average of $1,007.75 and a 200-day simple moving average of $957.77.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the company earned $3.41 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Scotiabank set a $1,100.00 target price on ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Piper Sandler reduced their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Barclays set a $1,085.00 price target on ServiceNow in a research note on Wednesday, May 7th. Mizuho raised their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Bank of America reduced their target price on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,068.23.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.