American Trust Purchases Shares of 832 ServiceNow, Inc. (NYSE:NOW)

American Trust acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 832 shares of the information technology services provider's stock, valued at approximately $744,000.

Several other institutional investors have also recently made changes to their positions in NOW. Polymer Capital Management HK LTD increased its position in shares of ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock valued at $2,416,000 after buying an additional 981 shares in the last quarter. AXA S.A. raised its position in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider's stock worth $304,712,000 after purchasing an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its stake in ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock valued at $436,000 after buying an additional 138 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after buying an additional 765 shares during the last quarter. Finally, HWG Holdings LP acquired a new position in shares of ServiceNow during the second quarter valued at approximately $2,679,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on NOW shares. Wells Fargo & Company increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. KeyCorp downgraded ServiceNow from an "overweight" rating to a "sector weight" rating in a research report on Friday. Barclays upped their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. UBS Group lifted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Finally, StockNews.com raised shares of ServiceNow from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,034.96.

ServiceNow Price Performance

Shares of NOW traded down $27.32 on Friday, reaching $1,121.10. The stock had a trading volume of 1,347,291 shares, compared to its average volume of 1,279,685. The firm has a 50-day moving average of $1,006.82 and a 200 day moving average of $870.89. The firm has a market capitalization of $230.95 billion, a PE ratio of 174.35, a PEG ratio of 6.58 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts' consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. During the same quarter last year, the business posted $1.21 earnings per share. The business's revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company's stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock valued at $20,861,626 in the last ninety days. Corporate insiders own 0.25% of the company's stock.

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.