Whittier Trust Co. Has $80.81 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Whittier Trust Co. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,227 shares of the information technology services provider’s stock after purchasing an additional 1,410 shares during the period. ServiceNow accounts for about 1.1% of Whittier Trust Co.’s investment portfolio, making the stock its 15th biggest holding. Whittier Trust Co.’s holdings in ServiceNow were worth $80,808,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NOW. World Investment Advisors LLC lifted its stake in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Bank of Montreal Can lifted its position in ServiceNow by 216.6% during the 3rd 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 acquiring an additional 935,848 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after acquiring an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $682,468,000. Finally, Wellington Management Group LLP increased its stake 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 worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NOW. UBS Group lowered their target price on ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Redburn Atlantic initiated coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Scotiabank cut their price objective on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating for the company in a research report on Monday. Finally, Piper Sandler lifted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,100.31.

ServiceNow Price Performance

ServiceNow stock opened at $843.60 on Thursday. The business’s fifty day moving average is $979.74 and its two-hundred day moving average is $984.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $173.78 billion, a P/E ratio of 123.51, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has authorized a share buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.