ServiceNow, Inc. $NOW Position Increased by Trust Point Inc.

Trust Point Inc. grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 356.9% during the fourth quarter, Holdings Channel reports. The firm owned 8,357 shares of the information technology services provider’s stock after acquiring an additional 6,528 shares during the quarter. Trust Point Inc.’s holdings in ServiceNow were worth $1,280,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Kilter Group LLC bought a new position in ServiceNow in the second quarter worth about $25,000. IAG Wealth Partners LLC grew its holdings in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the last quarter. Noble Wealth Management PBC grew its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares during the last quarter. Bogart Wealth LLC raised its position in shares of ServiceNow by 93.8% during the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 15 shares during the period. Finally, Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $29,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of NOW opened at $103.69 on Friday. ServiceNow, Inc. has a one year low of $98.00 and a one year high of $211.48. The stock’s fifty day moving average is $113.44 and its 200-day moving average is $150.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $108.46 billion, a price-to-earnings ratio of 62.16, a price-to-earnings-growth ratio of 1.74 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Capital One Financial reduced their price objective on ServiceNow from $188.00 to $161.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Robert W. Baird set a $175.00 target price on ServiceNow in a research report on Thursday, January 29th. Truist Financial set a $175.00 target price on ServiceNow in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft set a $180.00 price target on shares of ServiceNow in a report on Thursday, January 29th. Finally, Canaccord Genuity Group set a $200.00 price target on shares of ServiceNow in a research report on Thursday, January 29th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.61.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 3,696 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the transaction, the insider directly owned 8,061 shares in the company, valued at $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the transaction, the director owned 46,430 shares in the company, valued at $4,697,323.10. This represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 16,237 shares of company stock worth $1,697,162. 0.34% of the stock is owned by corporate insiders.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.