Colonial Trust Co SC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Colonial Trust Co SC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 21.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214 shares of the information technology services provider’s stock after buying an additional 38 shares during the period. Colonial Trust Co SC’s holdings in ServiceNow were worth $227,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quarry LP bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow during the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow in the 4th quarter worth about $32,000. FPC Investment Advisory Inc. increased its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new position in ServiceNow during the 4th quarter valued at about $34,000. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets cut their price target on ServiceNow from $990.00 to $950.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Sanford C. Bernstein reiterated an “outperform” rating and set a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Mizuho cut their target price on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Finally, StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,048.55.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 336 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,408,026.60. This represents a 7.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,410 shares of company stock worth $15,821,524. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Down 0.8 %

NOW opened at $975.86 on Friday. The firm’s 50 day simple moving average is $843.35 and its two-hundred day simple moving average is $969.61. The company has a market capitalization of $202.00 billion, a PE ratio of 142.88, a PEG ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned $3.41 EPS. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a stock buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.