Wilmington Savings Fund Society FSB Acquires 948 Shares of ServiceNow, Inc. $NOW

Wilmington Savings Fund Society FSB lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 16.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,645 shares of the information technology services provider’s stock after acquiring an additional 948 shares during the period. Wilmington Savings Fund Society FSB’s holdings in ServiceNow were worth $6,832,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the 1st quarter worth about $26,000. WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the period. Global X Japan Co. Ltd. bought a new position in shares of ServiceNow during the 2nd quarter worth about $30,000. Finally, Dagco Inc. bought a new position in ServiceNow during the 1st quarter valued at about $33,000. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Down 1.3%

Shares of NYSE:NOW opened at $912.15 on Wednesday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a 50 day moving average of $909.39 and a 200-day moving average of $933.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $189.73 billion, a price-to-earnings ratio of 114.88, a P/E/G ratio of 4.16 and a beta of 0.92.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the company earned $3.13 EPS. ServiceNow’s revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Jefferies Financial Group lifted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Needham & Company LLC lifted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Raymond James Financial boosted their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,121.37.

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.