ServiceNow, Inc. (NYSE:NOW) Stake Cut by Central Bank & Trust Co.

Central Bank & Trust Co. cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,144 shares of the information technology services provider’s stock after selling 25 shares during the quarter. Central Bank & Trust Co.’s holdings in ServiceNow were worth $872,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NOW. Regal Investment Advisors LLC lifted its stake in ServiceNow by 7.0% during the third quarter. Regal Investment Advisors LLC now owns 721 shares of the information technology services provider’s stock worth $403,000 after purchasing an additional 47 shares during the last quarter. LPL Financial LLC lifted its stake in ServiceNow by 24.0% in the third quarter. LPL Financial LLC now owns 128,103 shares of the information technology services provider’s stock valued at $71,605,000 after buying an additional 24,776 shares during the last quarter. Algert Global LLC bought a new stake in ServiceNow in the third quarter valued at $310,000. Cary Street Partners Investment Advisory LLC lifted its stake in ServiceNow by 19.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 370 shares of the information technology services provider’s stock valued at $207,000 after buying an additional 59 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in ServiceNow by 74.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,197 shares of the information technology services provider’s stock valued at $4,023,000 after buying an additional 3,070 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOW. Jefferies Financial Group raised their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Robert W. Baird lifted their price objective on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. BMO Capital Markets cut their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $814.48.

Insider Activity

In other news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,530 shares of company stock worth $3,997,012. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.0 %

Shares of ServiceNow stock traded up $15.02 during trading on Friday, hitting $749.33. 1,764,477 shares of the stock traded hands, compared to its average volume of 1,586,168. The company has a fifty day moving average price of $723.59 and a two-hundred day moving average price of $738.85. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $153.61 billion, a P/E ratio of 80.14, a PEG ratio of 4.60 and a beta of 0.96.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Equities research analysts predict that ServiceNow, Inc. will post 6.5 EPS 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.