First American Trust FSB Sells 13 Shares of ServiceNow, Inc. (NYSE:NOW)

First American Trust FSB lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,223 shares of the information technology services provider’s stock after selling 13 shares during the period. First American Trust FSB’s holdings in ServiceNow were worth $9,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation N.A. raised its position in shares of ServiceNow by 7.3% in the fourth quarter. Zions Bancorporation N.A. now owns 575 shares of the information technology services provider’s stock worth $610,000 after buying an additional 39 shares in the last quarter. FineMark National Bank & Trust increased its stake in ServiceNow by 3.9% in the 4th quarter. FineMark National Bank & Trust now owns 11,532 shares of the information technology services provider’s stock worth $12,225,000 after acquiring an additional 430 shares during the last quarter. Ashton Thomas Securities LLC increased its stake in ServiceNow by 3.9% in the 4th quarter. Ashton Thomas Securities LLC now owns 1,437 shares of the information technology services provider’s stock worth $1,522,000 after acquiring an additional 54 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of ServiceNow by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 297,404 shares of the information technology services provider’s stock valued at $315,284,000 after acquiring an additional 6,041 shares during the last quarter. Finally, EFG Asset Management North America Corp. grew its holdings in shares of ServiceNow by 9.3% during the fourth quarter. EFG Asset Management North America Corp. now owns 5,988 shares of the information technology services provider’s stock worth $6,346,000 after purchasing an additional 511 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. The trade was a 13.07 % 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, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock worth $20,050,076 over the last 90 days. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent analyst reports. Truist Financial raised their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Jefferies Financial Group lowered 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, JPMorgan Chase & Co. upped their price objective on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One 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. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,100.31.

ServiceNow Price Performance

NOW opened at $851.56 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $175.42 billion, a PE ratio of 124.68, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The stock’s 50 day moving average price is $968.10 and its 200-day moving average price is $985.50. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has approved a stock repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is 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.