Trust Point Inc. Grows Stock Holdings in ServiceNow, Inc. $NOW

Trust Point Inc. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 356.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,357 shares of the information technology services provider’s stock after acquiring an additional 6,528 shares during the period. Trust Point Inc.’s holdings in ServiceNow were worth $1,280,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Kilter Group LLC purchased a new position in ServiceNow in the second quarter valued at about $25,000. IAG Wealth Partners LLC lifted its stake in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares in the last quarter. Noble Wealth Management PBC boosted its position in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 128 shares during the period. Bogart Wealth LLC boosted its position in shares of ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after buying an additional 15 shares during the period. Finally, Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.6%

NOW stock opened at $103.69 on Friday. ServiceNow, Inc. has a twelve month low of $98.00 and a twelve month high of $211.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $108.46 billion, a P/E ratio of 62.16, a PEG ratio of 1.74 and a beta of 0.99. The firm has a 50 day simple moving average of $113.44 and a 200-day simple moving average of $150.90.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NOW. DZ Bank upgraded ServiceNow to a “strong-buy” rating in a report on Thursday, December 18th. The Goldman Sachs Group set a $216.00 price objective on shares of ServiceNow in a research report on Monday, February 2nd. Argus upgraded shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group set a $200.00 target price on shares of ServiceNow in a research note on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $192.61.

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares of the company’s stock, valued at $820,367.97. The trade was a 31.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the sale, the director owned 46,430 shares in the company, valued at $4,697,323.10. The trade was a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,237 shares of company stock valued at $1,697,162. Insiders own 0.34% of the company’s stock.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.