Greenleaf Trust Boosts Position in ServiceNow, Inc. (NYSE:NOW)

Greenleaf Trust grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,228 shares of the information technology services provider’s stock after buying an additional 125 shares during the quarter. Greenleaf Trust’s holdings in ServiceNow were worth $2,281,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after purchasing an additional 122,577 shares in the last quarter. State Street Corp boosted its holdings in ServiceNow by 1.8% in the 1st quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider’s stock worth $3,755,904,000 after acquiring an additional 141,744 shares during the period. Morgan Stanley grew its position in ServiceNow by 4.3% in the fourth quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock valued at $2,745,763,000 after acquiring an additional 288,522 shares in the last quarter. FMR LLC raised its stake in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of ServiceNow by 2.3% during the first quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock worth $1,663,879,000 after purchasing an additional 79,037 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $17.45 during midday trading on Friday, hitting $713.91. 1,540,609 shares of the company’s stock were exchanged, compared to its average volume of 874,337. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32. The firm has a market cap of $146.62 billion, a P/E ratio of 84.92, a PEG ratio of 4.62 and a beta of 0.97. The stock’s 50 day moving average price is $764.19 and its 200-day moving average price is $701.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. Equities research analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research note on Tuesday. UBS Group raised their price objective on ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research note on Monday, April 15th. JMP Securities upped their target price on ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research report on Monday, January 22nd. Finally, Citigroup lifted their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

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.