First United Bank & Trust Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

First United Bank & Trust increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 53.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 722 shares of the information technology services provider’s stock after buying an additional 252 shares during the quarter. First United Bank & Trust’s holdings in ServiceNow were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter worth approximately $30,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Semmax Financial Advisors Inc. purchased a new position in ServiceNow during the second quarter worth approximately $39,000. Oakworth Capital Inc. boosted its holdings in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC grew its stake in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 1.4 %

NOW opened at $1,072.02 on Tuesday. 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 stock’s fifty day moving average is $1,069.67 and its 200-day moving average is $933.26. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a market capitalization of $220.84 billion, a PE ratio of 166.72, a P/E/G ratio of 4.85 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted 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. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business posted $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 7.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NOW. The Goldman Sachs Group lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Barclays raised their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Mizuho upped their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Citigroup increased their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,080.38.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock valued at $21,016,751 over the last three months. Insiders own 0.25% of the company’s stock.

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.