Chevy Chase Trust Holdings LLC Decreases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Chevy Chase Trust Holdings LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,599 shares of the information technology services provider’s stock after selling 1,377 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in ServiceNow were worth $98,919,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Catalyst Financial Partners LLC boosted its stake in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network lifted its holdings in shares of ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after buying an additional 12 shares during the period. Capital Advisors Ltd. LLC boosted its stake in ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 12 shares in the last quarter. BluePointe Capital Management LLC grew its holdings in ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after acquiring an additional 12 shares during the period. Finally, Morling Financial Advisors LLC lifted its holdings in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NOW shares. Citigroup lifted their price objective 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. Canaccord Genuity Group upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Truist Financial raised their price objective on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $994.43.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. This trade represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,329 shares of company stock worth $20,547,241. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,049.44 on Monday. The firm has a market cap of $216.18 billion, a P/E ratio of 163.21, a PEG ratio of 6.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,072.84. The stock’s 50-day moving average is $963.10 and its two-hundred day moving average is $847.50.

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

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.