Country Trust Bank Buys 237,357 Shares of ServiceNow, Inc. $NOW

Country Trust Bank grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 548.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 280,673 shares of the information technology services provider’s stock after acquiring an additional 237,357 shares during the quarter. Country Trust Bank’s holdings in ServiceNow were worth $42,996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brady Martz Wealth Solutions LLC boosted its position in shares of ServiceNow by 1.3% during the 3rd quarter. Brady Martz Wealth Solutions LLC now owns 842 shares of the information technology services provider’s stock valued at $775,000 after acquiring an additional 11 shares during the last quarter. Magnus Financial Group LLC boosted its position in shares of ServiceNow by 1.9% during the 3rd quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock valued at $542,000 after acquiring an additional 11 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of ServiceNow by 2.5% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock valued at $417,000 after acquiring an additional 11 shares during the last quarter. Traveka Wealth LLC boosted its position in shares of ServiceNow by 3.8% during the 3rd quarter. Traveka Wealth LLC now owns 330 shares of the information technology services provider’s stock valued at $304,000 after acquiring an additional 12 shares during the last quarter. Finally, Regatta Capital Group LLC boosted its position in shares of ServiceNow by 1.9% during the 3rd quarter. Regatta Capital Group LLC now owns 633 shares of the information technology services provider’s stock valued at $583,000 after acquiring an additional 12 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares of the company’s stock, valued at $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. The trade was a 31.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,237 shares of company stock valued at $1,697,162 over the last 90 days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOW. Canaccord Genuity Group set a $200.00 price target on shares of ServiceNow in a report on Thursday, January 29th. Robert W. Baird set a $175.00 price target on shares of ServiceNow in a report on Thursday, January 29th. TD Cowen lowered their price target on shares of ServiceNow from $200.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Stifel Nicolaus lowered their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Finally, Jefferies Financial Group lowered their price target on shares of ServiceNow from $230.00 to $175.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.59.

ServiceNow Stock Up 0.5%

Shares of NOW opened at $102.46 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The company has a market cap of $107.17 billion, a PE ratio of 61.43, a P/E/G ratio of 1.71 and a beta of 1.01. ServiceNow, Inc. has a 52-week low of $98.00 and a 52-week high of $211.48. The business has a fifty day moving average of $109.76 and a 200 day moving average of $146.19.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.