Grove Bank & Trust Has $3.81 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Grove Bank & Trust reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 15.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,594 shares of the information technology services provider’s stock after selling 664 shares during the period. Grove Bank & Trust’s holdings in ServiceNow were worth $3,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of ServiceNow in the 3rd quarter worth $30,000. DT Investment Partners LLC lifted its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of ServiceNow during the second quarter worth about $39,000. Oakworth Capital Inc. boosted its holdings in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC grew its holdings in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on NOW. JMP Securities lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Needham & Company LLC increased their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Mizuho upped their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group boosted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,080.38.

ServiceNow Stock Performance

Shares of NOW opened at $1,072.02 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The stock has a 50-day moving average of $1,069.67 and a two-hundred day moving average of $931.27. The stock has a market cap of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99.

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

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 81 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the completion of the sale, the general counsel now owns 6,843 shares in the company, valued at approximately $6,956,183.22. The trade was a 1.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

ServiceNow 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.