CENTRAL TRUST Co Increases Position in ServiceNow, Inc. (NYSE:NOW)

CENTRAL TRUST Co increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 27.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,078 shares of the information technology services provider’s stock after purchasing an additional 230 shares during the quarter. CENTRAL TRUST Co’s holdings in ServiceNow were worth $822,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NOW. Vanguard Group Inc. lifted its position in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after buying an additional 122,577 shares during the last quarter. FMR LLC boosted its stake in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after acquiring an additional 595,697 shares in the last quarter. Jennison Associates LLC grew its holdings in ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after purchasing an additional 53,719 shares during the last quarter. Norges Bank acquired a new position in shares of ServiceNow during the fourth quarter worth $1,648,259,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW traded down $13.05 during trading on Thursday, hitting $757.78. The company’s stock had a trading volume of 860,836 shares, compared to its average volume of 1,197,218. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $155.34 billion, a price-to-earnings ratio of 81.05, a P/E/G ratio of 4.87 and a beta of 0.98. The business’s fifty day simple moving average is $747.63 and its 200 day simple moving average is $730.35. ServiceNow, Inc. has a twelve month low of $494.13 and a twelve month high of $815.32.

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 during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 917 shares of company stock worth $690,880 in the last 90 days. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NOW shares. Citigroup upped their target price on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. JMP Securities reiterated a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research note on Tuesday, May 7th. The Goldman Sachs Group upped their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Truist Financial lifted their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group upped their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $808.73.

ServiceNow Company 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.