ServiceNow, Inc. (NYSE:NOW) Stock Holdings Increased by Equitable Trust Co.

Key Points

• Equitable Trust Co. has increased its holdings in ServiceNow, Inc. by 11.0% in the first quarter, now owning shares valued at approximately $4.29 million.
• Institutional investors currently hold 87.18% of ServiceNow's stock, indicating strong market confidence in the company.
• ServiceNow reported a 22.4% year-over-year revenue increase for the last quarter, with earnings per share (EPS) of $4.09, surpassing estimates by $0.52.

Equitable Trust Co. increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,388 shares of the information technology services provider's stock after purchasing an additional 533 shares during the quarter. Equitable Trust Co.'s holdings in ServiceNow were worth $4,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOW. GAMMA Investing LLC raised its holdings in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Norges Bank purchased a new position in shares of ServiceNow in the fourth quarter worth approximately $2,603,360,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of ServiceNow by 1,586.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock worth $742,965,000 after acquiring an additional 877,875 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of ServiceNow by 36.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after acquiring an additional 491,861 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

NYSE NOW opened at $998.12 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $1,001.77 and a 200 day simple moving average of $953.76. The company has a market cap of $206.59 billion, a P/E ratio of 125.71, a P/E/G ratio of 4.39 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

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. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.62%. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.13 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company'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 sale, the insider directly owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,003 shares of company stock worth $6,015,106 in the last quarter. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Thursday. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a research report on Wednesday. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Robert W. Baird lifted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Bank of America boosted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,107.94.

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.

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