Farmers Trust Co. Sells 43 Shares of ServiceNow, Inc. (NYSE:NOW)

Farmers Trust Co. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 202 shares of the information technology services provider’s stock after selling 43 shares during the quarter. Farmers Trust Co.’s holdings in ServiceNow were worth $214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Fulton Bank N.A. lifted its stake in ServiceNow by 14.6% in the fourth quarter. Fulton Bank N.A. now owns 1,881 shares of the information technology services provider’s stock worth $1,994,000 after purchasing an additional 240 shares during the last quarter. Sterneck Capital Management LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $276,000. One Wealth Capital Management LLC purchased a new position in ServiceNow during the 4th quarter valued at $1,264,000. Westwind Capital grew its position in ServiceNow by 41.6% in the 4th quarter. Westwind Capital now owns 23,131 shares of the information technology services provider’s stock valued at $24,522,000 after acquiring an additional 6,798 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC increased its stake in ServiceNow by 4.0% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 392 shares of the information technology services provider’s stock worth $416,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NOW. Jefferies Financial Group upped their price target on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Scotiabank initiated coverage on ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Stifel Nicolaus upped their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,061.04.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,048.05 on Thursday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $215.90 billion, a PE ratio of 162.99, a P/E/G ratio of 6.43 and a beta of 0.99. The business has a 50-day simple moving average of $1,060.09 and a two-hundred day simple moving average of $918.90.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock valued at $20,861,626 in the last ninety days. Company insiders own 0.25% of the company’s stock.

About ServiceNow

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.