Sanibel Captiva Trust Company Inc. Has $12.13 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Sanibel Captiva Trust Company Inc. reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,437 shares of the information technology services provider's stock after selling 737 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in ServiceNow were worth $12,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. grew its holdings in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after acquiring an additional 10 shares during the last quarter. Catalyst Financial Partners LLC raised its position in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock worth $1,025,000 after purchasing an additional 11 shares during the last quarter. First Affirmative Financial Network boosted its position in ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock valued at $801,000 after buying an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider's stock worth $84,000 after acquiring an additional 12 shares during the last quarter. Finally, BluePointe Capital Management LLC lifted its stake in shares of ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider's stock valued at $1,801,000 after acquiring an additional 12 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was 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 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research report on Friday. They set an "overweight" rating and a $1,332.00 target price on the stock. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 price objective on the stock. Citigroup increased their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Morgan Stanley cut ServiceNow from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Finally, Jefferies Financial Group increased their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,080.38.

ServiceNow Stock Up 1.4 %

ServiceNow stock traded up $14.86 during mid-day trading on Friday, reaching $1,072.02. The company's stock had a trading volume of 1,079,535 shares, compared to its average volume of 944,889. The business's 50 day simple moving average is $1,069.67 and its 200 day simple moving average is $932.23. 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 12 month low of $637.99 and a 12 month high of $1,157.90. The company has a market capitalization of $220.84 billion, a price-to-earnings ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

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

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.