ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,990 shares of the information technology services provider’s stock after purchasing an additional 204 shares during the quarter. Raymond James Trust N.A.’s holdings in ServiceNow were worth $3,569,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Quent Capital LLC raised its stake in ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 30 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of ServiceNow during the 1st quarter worth approximately $210,000. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. CreativeOne Wealth LLC boosted its position in ServiceNow by 81.8% during the 1st quarter. CreativeOne Wealth LLC now owns 640 shares of the information technology services provider’s stock valued at $488,000 after purchasing an additional 288 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in ServiceNow during the 1st quarter worth $271,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOW. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Oppenheimer boosted their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets raised their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. TD Cowen boosted their price objective on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Scotiabank began coverage on ServiceNow in a research report on Tuesday. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $986.39.

ServiceNow Stock Performance

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

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

Insider Activity

In other news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,867 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the completion of the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $7,007,026.71. This represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,644 shares of company stock worth $19,381,744 over the last 90 days. 0.25% of the stock is owned by company insiders.

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.