ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA raised its position in ServiceNow, Inc. (NYSE:NOW) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 80,630 shares of the information technology services provider’s stock after acquiring an additional 291 shares during the quarter. Glenmede Trust Co. NA’s holdings in ServiceNow were worth $72,115,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Swedbank AB acquired a new position in shares of ServiceNow in the first quarter worth $897,908,000. Bank of Montreal Can raised its stake in shares of ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after acquiring an additional 935,848 shares in the last quarter. FMR LLC boosted its holdings in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new stake in ServiceNow during the 2nd quarter worth about $218,786,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on NOW shares. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company lifted their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Truist Financial increased their price objective on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Mizuho boosted their target price on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird increased their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $989.07.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,787 shares of company stock worth $17,841,028. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

ServiceNow stock opened at $1,070.07 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $955.40 and a 200-day simple moving average of $841.01. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. The stock has a market capitalization of $220.43 billion, a PE ratio of 166.42, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current 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.