First Citizens Bank & Trust Co. Reduces Holdings in ServiceNow, Inc. (NYSE:NOW)

First Citizens Bank & Trust Co. lowered its position in ServiceNow, Inc. (NYSE:NOW) by 43.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 699 shares of the information technology services provider’s stock after selling 531 shares during the period. First Citizens Bank & Trust Co.’s holdings in ServiceNow were worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of NOW. GAMMA Investing LLC lifted its holdings in ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. Norges Bank acquired a new position in ServiceNow in the 4th quarter valued at $2,603,360,000. Proficio Capital Partners LLC raised its stake in ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in ServiceNow in the 4th quarter valued at $682,468,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after buying an additional 509,467 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NOW shares. Royal Bank of Canada increased their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Mizuho decreased their price objective on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Raymond James cut their target price on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus lifted their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,062.50.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the transaction, the director now directly owns 10,643 shares of the company’s stock, valued at $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the transaction, the director now directly owns 428 shares in the company, valued at approximately $402,418.44. This trade represents a 58.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,009.94 on Wednesday. The company has a market cap of $209.04 billion, a PE ratio of 147.87, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50-day simple moving average of $928.22 and a 200-day simple moving average of $974.13.

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

ServiceNow Profile

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.