Trust Point Inc. Has $1.33 Million Position in ServiceNow, Inc. (NYSE:NOW)

Trust Point Inc. reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 22.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,675 shares of the information technology services provider's stock after selling 484 shares during the period. Trust Point Inc.'s holdings in ServiceNow were worth $1,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in ServiceNow by 87,501.3% during 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 buying an additional 2,686,291 shares during the last quarter. Norges Bank acquired a new position in ServiceNow during the fourth quarter worth $2,603,360,000. Proficio Capital Partners LLC boosted its position in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after buying an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $682,468,000. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $16.61 during trading on Monday, hitting $1,005.27. 1,229,665 shares of the stock were exchanged, compared to its average volume of 1,482,383. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The stock's fifty day moving average is $944.56 and its 200 day moving average is $972.50. The stock has a market cap of $208.07 billion, a PE ratio of 147.19, a P/E/G ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the business earned $3.41 earnings per share. The company's revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the sale, the insider now directly owns 3,000 shares of the company's stock, valued at $3,060,000. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JMP Securities restated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Royal Bank of Canada upped their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Redburn Atlantic began coverage on ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Mizuho upped their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $1,050.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Company 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.