Sandy Spring Bank Purchases 368 Shares of ServiceNow, Inc. (NYSE:NOW)

Sandy Spring Bank grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,541 shares of the information technology services provider's stock after purchasing an additional 368 shares during the quarter. Sandy Spring Bank's holdings in ServiceNow were worth $9,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of NOW. World Investment Advisors LLC boosted its stake in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock worth $4,268,731,000 after acquiring an additional 4,771,830 shares in the last quarter. Bank of Montreal Can boosted its position in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider's stock worth $1,206,178,000 after purchasing an additional 935,848 shares during the period. Proficio Capital Partners LLC boosted its position in ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after purchasing an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $682,468,000. Finally, Wellington Management Group LLP lifted its stake in shares of ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock worth $2,834,797,000 after buying an additional 615,797 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NOW. Guggenheim reiterated a "sell" rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. StockNews.com downgraded ServiceNow from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Redburn Atlantic assumed coverage on ServiceNow in a research note on Wednesday, February 19th. They set a "buy" rating for the company. Jefferies Financial Group dropped their price target on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. Finally, KeyCorp cut ServiceNow from an "overweight" rating to a "sector weight" rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,100.31.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

NOW stock traded up $23.81 during trading on Monday, hitting $851.56. 1,599,397 shares of the stock traded hands, compared to its average volume of 1,352,367. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $175.42 billion, a price-to-earnings ratio of 124.68, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a 50 day simple moving average of $971.31 and a 200 day simple moving average of $985.39.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results 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 return on equity of 17.11% and a net margin of 12.97%. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

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.