Fulton Bank N.A. Buys 175 Shares of ServiceNow, Inc. (NYSE:NOW)

Fulton Bank N.A. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOWGet Rating) by 18.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,112 shares of the information technology services provider’s stock after buying an additional 175 shares during the quarter. Fulton Bank N.A.’s holdings in ServiceNow were worth $529,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NOW. Edgewood Management LLC bought a new position in ServiceNow during the first quarter valued at about $1,515,281,000. Norges Bank bought a new position in ServiceNow during the fourth quarter worth about $1,117,096,000. Fisher Asset Management LLC boosted its position in ServiceNow by 57.9% during the first quarter. Fisher Asset Management LLC now owns 1,413,079 shares of the information technology services provider’s stock worth $786,930,000 after purchasing an additional 518,349 shares during the period. Capital International Investors boosted its position in ServiceNow by 18.1% during the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock worth $1,786,783,000 after purchasing an additional 491,835 shares during the period. Finally, Vanguard Group Inc. boosted its position in ServiceNow by 1.9% during the first quarter. Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock worth $9,074,862,000 after purchasing an additional 306,106 shares during the period. Institutional investors own 87.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on NOW shares. Barclays cut their target price on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Citigroup cut their target price on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. UBS Group cut their target price on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Wells Fargo & Company cut their price objective on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Finally, Stifel Nicolaus cut their price objective on shares of ServiceNow from $650.00 to $550.00 in a research report on Wednesday, May 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $598.84.

Insider Transactions at ServiceNow

In other news, insider Nicholas Tzitzon sold 2,822 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Nicholas Tzitzon sold 2,822 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the transaction, the director now owns 33,600 shares in the company, valued at approximately $16,699,536. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,256 shares of company stock worth $14,019,372. Insiders own 0.28% of the company’s stock.

ServiceNow Trading Down 2.2 %

NOW stock opened at $425.80 on Friday. The company has a market capitalization of $86.01 billion, a PE ratio of 467.91, a price-to-earnings-growth ratio of 8.86 and a beta of 0.94. ServiceNow, Inc. has a one year low of $406.47 and a one year high of $707.60. The company’s 50 day moving average price is $457.68 and its two-hundred day moving average price is $483.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOWGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue was up 24.3% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.

About ServiceNow

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Further Reading

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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