First Bank & Trust Sells 285 Shares of ServiceNow, Inc. (NYSE:NOW)

First Bank & Trust trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 4,331 shares of the information technology services provider’s stock after selling 285 shares during the quarter. ServiceNow accounts for about 0.9% of First Bank & Trust’s investment portfolio, making the stock its 19th biggest holding. First Bank & Trust’s holdings in ServiceNow were worth $4,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new stake in ServiceNow in the 3rd quarter valued at about $30,000. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the fourth quarter worth about $37,000. Stonebridge Financial Group LLC purchased a new stake in ServiceNow in the fourth quarter worth approximately $37,000. Finally, Oakworth Capital Inc. boosted its stake in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 2,404 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total value of $2,356,040.20. Following the transaction, the insider now owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This represents a 27.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,806 shares of company stock valued at $16,065,122 in the last quarter. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on NOW. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Canaccord Genuity Group upped their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Needham & Company LLC upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Piper Sandler raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $986.61 on Thursday. The stock has a market cap of $203.24 billion, a price-to-earnings ratio of 144.45, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99. 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 50 day moving average price of $1,061.97 and a 200-day moving average price of $976.06. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates 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 year.

ServiceNow announced that its Board of Directors has authorized a stock 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management 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.