ServiceNow, Inc. (NYSE:NOW) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,148 shares of the information technology services provider’s stock after selling 289 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in ServiceNow were worth $8,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new position in ServiceNow in the 4th quarter worth $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the fourth quarter worth about $32,000. FPC Investment Advisory Inc. lifted its holdings in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new stake in ServiceNow in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of a number of recent research reports. Wells Fargo & Company raised their price target on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Evercore ISI raised their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Royal Bank of Canada boosted their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

ServiceNow Trading Down 0.3%

Shares of ServiceNow stock opened at $1,027.05 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market capitalization of $212.58 billion, a PE ratio of 150.37, a P/E/G ratio of 4.51 and a beta of 0.95. The firm’s 50-day moving average price is $923.49 and its 200 day moving average price is $973.88.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.41 earnings per share. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 354 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 248 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the completion of the transaction, the director now directly owns 10,643 shares in the company, valued at $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 over the last three months. Insiders own 0.38% of the company’s stock.

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.