Whittier Trust Co. Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Whittier Trust Co. raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,227 shares of the information technology services provider's stock after buying an additional 1,410 shares during the quarter. ServiceNow comprises about 1.1% of Whittier Trust Co.'s portfolio, making the stock its 15th biggest holding. Whittier Trust Co.'s holdings in ServiceNow were worth $80,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in NOW. Avidian Wealth Enterprises LLC raised its holdings in ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after purchasing an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of 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 purchasing an additional 10 shares during the period. Institute for Wealth Management LLC. boosted its holdings in shares of ServiceNow by 0.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after purchasing an additional 11 shares during the last quarter. TBH Global Asset Management LLC increased its stake in ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after purchasing an additional 11 shares during the last quarter. Finally, Onefund LLC lifted its position in ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after buying an additional 11 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 in the last 90 days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Stock Performance

NOW traded up $23.81 on Monday, hitting $851.56. 1,599,397 shares of the stock traded hands, compared to its average volume of 1,352,368. The business has a fifty day moving average price of $968.10 and a two-hundred day moving average price of $985.50. 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 firm has a market capitalization of $175.42 billion, a PE ratio of 124.68, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share buyback program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. Piper Sandler boosted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, Guggenheim reaffirmed a "sell" rating and issued a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus target price of $1,100.31.

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.