Trustcore Financial Services LLC lifted its position in ServiceNow Inc (NYSE:NOW) by 5,742.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 409 shares of the information technology services provider’s stock after purchasing an additional 402 shares during the quarter. Trustcore Financial Services LLC’s holdings in ServiceNow were worth $112,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Gravity Wealth Inc. acquired a new position in ServiceNow during the 1st quarter worth about $25,000. Sandy Spring Bank lifted its position in ServiceNow by 118.0% during 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 in the last quarter. Spectrum Management Group Inc. acquired a new position in ServiceNow during the 1st quarter worth about $37,000. Knuff & Co LLC acquired a new position in ServiceNow during the 1st quarter worth about $37,000. Finally, FTB Advisors Inc. acquired a new position in ServiceNow during the 1st quarter worth about $45,000. 92.95% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Argus upped their price target on shares of ServiceNow from $260.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Canaccord Genuity upped their price target on shares of ServiceNow from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley upped their price target on shares of ServiceNow from $250.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. BTIG Research restated a “buy” rating and set a $320.00 target price on shares of ServiceNow in a research report on Thursday, July 25th. Finally, Robert W. Baird upped their target price on shares of ServiceNow from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $287.86.
ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $833.90 million for the quarter, compared to the consensus estimate of $831.50 million. ServiceNow had a net margin of 0.09% and a return on equity of 4.44%. ServiceNow’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. On average, equities research analysts expect that ServiceNow Inc will post 0.43 EPS for the current fiscal year.
In related news, insider Michael Scarpelli sold 25,899 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $278.41, for a total value of $7,210,540.59. Following the sale, the insider now directly owns 37,071 shares in the company, valued at approximately $10,320,937.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 1,770 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $268.60, for a total transaction of $475,422.00. Following the completion of the sale, the director now owns 10,784 shares in the company, valued at $2,896,582.40. The disclosure for this sale can be found here. Insiders sold a total of 117,533 shares of company stock worth $32,653,084 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.
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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