Heritage Trust Co Takes $1.89 Million Position in ServiceNow, Inc. (NYSE:NOW)

Heritage Trust Co acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,779 shares of the information technology services provider's stock, valued at approximately $1,886,000.

Other hedge funds have also modified their holdings of the company. Atala Financial Inc bought a new stake in ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the 4th quarter worth about $32,000. FPC Investment Advisory Inc. increased its holdings in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the 4th quarter valued at about $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NOW. Cantor Fitzgerald restated an "overweight" rating and set a $1,048.00 price objective on shares of ServiceNow in a research report on Tuesday, March 11th. Canaccord Genuity Group restated a "buy" rating and set a $1,275.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. Truist Financial dropped their price objective on shares of ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Finally, UBS Group dropped their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,059.80.

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Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. This trade 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 20,351 shares of company stock valued at $20,050,076. Corporate insiders own 0.25% of the company's stock.

ServiceNow Stock Up 2.7 %

ServiceNow stock traded up $21.68 during trading hours on Tuesday, reaching $821.50. The stock had a trading volume of 760,714 shares, compared to its average volume of 1,465,393. The company has a market cap of $170.05 billion, a price-to-earnings ratio of 120.28, a PEG ratio of 4.51 and a beta of 1.08. The business's 50 day moving average price is $870.99 and its 200-day moving average price is $973.31. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

ServiceNow Company 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.