FARMERS & MERCHANTS TRUST Co OF LONG BEACH Buys New Stake in ServiceNow, Inc. (NYSE:NOW)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 200 shares of the information technology services provider’s stock, valued at approximately $212,000.

Other hedge funds also recently bought and sold shares of the company. World Investment Advisors LLC boosted its stake in ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. International Assets Investment Management LLC increased its position in ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares during the period. Bank of Montreal Can lifted its holdings in shares of ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after acquiring an additional 615,797 shares during the period. Finally, FMR LLC grew its stake in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Truist Financial increased their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Piper Sandler increased their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company boosted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho raised their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,080.38.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,867 shares of ServiceNow stock in a transaction on 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 trade represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,731 shares of company stock worth $21,016,751. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $1,072.02 on Friday. The business’s fifty day moving average is $1,068.39 and its two-hundred day moving average is $929.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90.

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

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.