Glenmede Trust Co. NA Acquires 291 Shares of ServiceNow, Inc. (NYSE:NOW)

Glenmede Trust Co. NA increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,630 shares of the information technology services provider’s stock after purchasing an additional 291 shares during the period. Glenmede Trust Co. NA’s holdings in ServiceNow were worth $72,115,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC boosted its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Truvestments Capital LLC purchased a new position in ServiceNow in the third quarter valued at about $30,000. Finally, Ridgewood Investments LLC bought a new position in ServiceNow in the second quarter worth about $32,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada raised their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI upped their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. KeyCorp raised their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Citigroup lifted their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $989.07.

Insider Activity at ServiceNow

In other news, insider Kevin Thomas Mcbride sold 100 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the completion of the transaction, the insider now directly owns 3,457 shares in the company, valued at approximately $3,539,864.29. This represents a 2.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,787 shares of company stock valued at $17,841,028. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,070.07 on Wednesday. The company has a market capitalization of $220.43 billion, a PE ratio of 166.42, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company’s fifty day moving average price is $955.40 and its 200 day moving average price is $841.01. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,072.84.

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

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.