Raymond James Trust N.A. Has $3.57 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Raymond James Trust N.A. grew its position in ServiceNow, Inc. (NYSE:NOW) by 5.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,990 shares of the information technology services provider’s stock after acquiring an additional 204 shares during the quarter. Raymond James Trust N.A.’s holdings in ServiceNow were worth $3,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in ServiceNow by 11.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock valued at $1,449,178,000 after acquiring an additional 167,847 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after purchasing an additional 34,855 shares in the last quarter. Swedbank AB raised its holdings in shares of ServiceNow by 10.3% during the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after purchasing an additional 120,983 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ServiceNow by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,236,337 shares of the information technology services provider’s stock worth $1,105,767,000 after purchasing an additional 31,702 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,644 shares of company stock valued at $19,381,744. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NOW. Wells Fargo & Company boosted their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Piper Sandler boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their price target on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Robert W. Baird boosted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup raised their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $986.39.

ServiceNow Trading Up 1.3 %

Shares of NOW stock opened at $1,060.57 on Friday. The firm has a fifty day moving average of $948.53 and a 200-day moving average of $834.64. The stock has a market cap of $218.48 billion, a price-to-earnings ratio of 164.94, a P/E/G ratio of 6.01 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,064.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.