Cambridge Trust Co. Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Cambridge Trust Co. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,992 shares of the information technology services provider’s stock after purchasing an additional 520 shares during the period. Cambridge Trust Co.’s holdings in ServiceNow were worth $24,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. PFG Private Wealth Management LLC acquired a new position in ServiceNow in the 3rd quarter worth $28,000. First Capital Advisors Group LLC. acquired a new position in ServiceNow in the 2nd quarter worth $29,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow in the 1st quarter worth $29,000. Finally, Fortitude Family Office LLC acquired a new position in ServiceNow in the 4th quarter worth $41,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last quarter. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE NOW traded down $6.12 during mid-day trading on Thursday, reaching $730.33. 454,207 shares of the company traded hands, compared to its average volume of 1,166,635. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $150.00 billion, a PE ratio of 87.68, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. The stock has a fifty day simple moving average of $767.53 and a 200-day simple moving average of $700.42.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial upped their target price on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Mizuho upped their target price on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Jefferies Financial Group upped their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada upped their target price on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $780.37.

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.