Whittier Trust Co. of Nevada Inc. Grows Holdings in ServiceNow Inc (NYSE:NOW)

Whittier Trust Co. of Nevada Inc. lifted its holdings in ServiceNow Inc (NYSE:NOW) by 18.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,413 shares of the information technology services provider’s stock after buying an additional 1,015 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in ServiceNow were worth $1,761,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. grew its position in shares of ServiceNow by 3.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,212 shares of the information technology services provider’s stock worth $333,000 after buying an additional 42 shares during the period. Cigna Investments Inc. New grew its position in shares of ServiceNow by 2.0% in the 1st quarter. Cigna Investments Inc. New now owns 2,652 shares of the information technology services provider’s stock worth $654,000 after buying an additional 53 shares during the period. Sandy Spring Bank grew its position in shares of ServiceNow by 118.0% in the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after buying an additional 59 shares during the period. Allred Capital Management LLC grew its position in shares of ServiceNow by 3.5% in the 2nd quarter. Allred Capital Management LLC now owns 1,888 shares of the information technology services provider’s stock worth $543,000 after buying an additional 63 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of ServiceNow by 6.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,129 shares of the information technology services provider’s stock worth $278,000 after buying an additional 64 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow stock traded down $8.14 during mid-day trading on Friday, reaching $265.86. The stock had a trading volume of 2,437,744 shares, compared to its average volume of 1,587,511. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $51.46 billion, a P/E ratio of 1,329.30, a price-to-earnings-growth ratio of 23.09 and a beta of 1.30. The company’s 50-day moving average price is $287.12. ServiceNow Inc has a one year low of $147.63 and a one year high of $303.17.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $833.90 million for the quarter, compared to analysts’ expectations of $831.50 million. ServiceNow had a net margin of 0.09% and a return on equity of 4.44%. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. On average, analysts forecast that ServiceNow Inc will post 0.43 EPS for the current year.

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of ServiceNow from $285.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Credit Suisse Group upped their target price on shares of ServiceNow from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Zacks Investment Research upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and set a $299.00 price target on the stock in a research note on Tuesday, April 30th. BTIG Research reiterated a “buy” rating and issued a $320.00 price target on shares of ServiceNow in a research note on Thursday, July 25th. Finally, Deutsche Bank upped their price target on shares of ServiceNow from $285.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $287.86.

In other ServiceNow news, insider Patricia L. Wadors sold 1,559 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $263.61, for a total transaction of $410,967.99. Following the transaction, the insider now owns 3,093 shares in the company, valued at approximately $815,345.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chirantan Jitendra Desai sold 1,563 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $302.30, for a total transaction of $472,494.90. Following the transaction, the insider now owns 32,824 shares in the company, valued at approximately $9,922,695.20. The disclosure for this sale can be found here. Insiders have sold a total of 119,092 shares of company stock worth $33,064,052 in the last 90 days. Company insiders own 1.00% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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