Sabal Trust CO Acquires Shares of 986 ServiceNow, Inc. (NYSE:NOW)

Sabal Trust CO bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, HoldingsChannel reports. The fund bought 986 shares of the information technology services provider’s stock, valued at approximately $785,000.

Several other hedge funds also recently made changes to their positions in NOW. Brighton Jones LLC increased its stake in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of ServiceNow by 11.8% in the 4th quarter. IFP Advisors Inc now owns 1,949 shares of the information technology services provider’s stock valued at $2,065,000 after buying an additional 206 shares during the period. Rothschild Investment LLC grew its position in shares of ServiceNow by 7.1% during the 4th quarter. Rothschild Investment LLC now owns 348 shares of the information technology services provider’s stock valued at $369,000 after buying an additional 23 shares during the last quarter. Pine Valley Investments Ltd Liability Co acquired a new stake in ServiceNow during the fourth quarter worth about $219,000. Finally, FFT Wealth Management LLC raised its stake in ServiceNow by 10.1% during the fourth quarter. FFT Wealth Management LLC now owns 1,109 shares of the information technology services provider’s stock worth $1,176,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the sale, the director now directly owns 3,205 shares in the company, valued at approximately $2,985,842.10. This trade represents a 19.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 over the last ninety days. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NOW. FBN Securities upgraded ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. cut their price target on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley upped their price objective on ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Monday, June 9th. Finally, Citigroup boosted their price target on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,065.32.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,005.95 on Thursday. The company has a market capitalization of $208.21 billion, a PE ratio of 136.68, a price-to-earnings-growth ratio of 4.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty day moving average of $975.77 and a 200-day moving average of $968.70. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. ServiceNow’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.41 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.