950 Shares in ServiceNow Inc (NYSE:NOW) Purchased by Fiduciary Trust Co.

Fiduciary Trust Co. bought a new stake in ServiceNow Inc (NYSE:NOW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 950 shares of the information technology services provider’s stock, valued at approximately $234,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. bought a new stake in shares of ServiceNow in the 1st quarter valued at $25,000. Sandy Spring Bank boosted its stake in shares of ServiceNow by 118.0% in the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Spectrum Management Group Inc. bought a new stake in shares of ServiceNow in the 1st quarter valued at $37,000. We Are One Seven LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at $27,000. Finally, Claybrook Capital LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 93.08% of the company’s stock.

NYSE NOW traded down $1.54 during trading hours on Friday, reaching $272.25. 987,571 shares of the company were exchanged, compared to its average volume of 1,908,616. ServiceNow Inc has a 1 year low of $147.63 and a 1 year high of $281.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $51.11 billion, a PE ratio of 1,361.25, a price-to-earnings-growth ratio of 19.76 and a beta of 1.41.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The business had revenue of $788.93 million during the quarter, compared to the consensus estimate of $768.09 million. During the same quarter last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. As a group, analysts forecast that ServiceNow Inc will post 0.48 EPS for the current fiscal year.

In other ServiceNow news, insider Michael Scarpelli sold 25,899 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $278.41, for a total transaction of $7,210,540.59. Following the completion of the transaction, the insider now owns 37,071 shares in the company, valued at $10,320,937.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic B. Luddy sold 22,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $277.57, for a total transaction of $6,106,540.00. Following the transaction, the director now owns 1,770 shares of the company’s stock, valued at approximately $491,298.90. The disclosure for this sale can be found here. Insiders have sold 115,685 shares of company stock valued at $30,437,964 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on NOW. Jefferies Financial Group increased their target price on shares of ServiceNow from $242.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. UBS Group increased their target price on shares of ServiceNow from $271.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank increased their target price on shares of ServiceNow from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Canaccord Genuity increased their target price on shares of ServiceNow from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Bank of America reissued a “buy” rating and set a $267.00 target price (up from $235.00) on shares of ServiceNow in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $270.68.

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ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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