First American Trust FSB Increases Holdings in ServiceNow Inc (NOW)

First American Trust FSB raised its holdings in shares of ServiceNow Inc (NYSE:NOW) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,047 shares of the information technology services provider’s stock after buying an additional 126 shares during the period. First American Trust FSB’s holdings in ServiceNow were worth $1,967,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. North Star Investment Management Corp. purchased a new stake in ServiceNow during the fourth quarter valued at approximately $31,000. Stratos Wealth Partners LTD. purchased a new stake in shares of ServiceNow in the third quarter worth $101,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of ServiceNow in the third quarter worth $117,000. Valeo Financial Advisors LLC increased its stake in shares of ServiceNow by 89.6% in the third quarter. Valeo Financial Advisors LLC now owns 931 shares of the information technology services provider’s stock worth $169,000 after purchasing an additional 440 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in shares of ServiceNow in the third quarter worth $207,000. 93.90% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on NOW shares. Jefferies Financial Group started coverage on shares of ServiceNow in a research note on Monday, October 1st. They issued a “buy” rating and a $240.00 price objective for the company. Macquarie set a $210.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a research note on Friday, October 12th. Needham & Company LLC started coverage on shares of ServiceNow in a research note on Monday, October 22nd. They issued a “buy” rating and a $224.00 price objective for the company. Morgan Stanley reduced their price objective on shares of ServiceNow from $198.00 to $188.00 and set an “overweight” rating for the company in a research note on Tuesday, October 23rd. Finally, ValuEngine cut shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $204.89.



NOW traded up $1.68 during trading on Friday, hitting $191.68. 76,207 shares of the company traded hands, compared to its average volume of 1,949,070. ServiceNow Inc has a 1 year low of $136.24 and a 1 year high of $206.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $34.15 billion, a price-to-earnings ratio of -181.85, a PEG ratio of 11.45 and a beta of 1.17.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 24th. The information technology services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.61. ServiceNow had a negative net margin of 2.52% and a negative return on equity of 2.93%. The business had revenue of $673.10 million during the quarter, compared to analyst estimates of $659.41 million. On average, equities research analysts forecast that ServiceNow Inc will post 0.17 earnings per share for the current year.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 2,031 shares of the stock in a transaction on Monday, November 12th. The shares were sold at an average price of $175.20, for a total transaction of $355,831.20. Following the completion of the transaction, the insider now owns 7,174 shares in the company, valued at $1,256,884.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John J. Donahoe sold 15,560 shares of the stock in a transaction on Monday, November 19th. The shares were sold at an average price of $161.52, for a total transaction of $2,513,251.20. Following the transaction, the chief executive officer now owns 78,141 shares of the company’s stock, valued at approximately $12,621,334.32. The disclosure for this sale can be found here. Insiders have sold 178,187 shares of company stock valued at $30,520,157 in the last quarter. 1.60% of the stock is owned by company insiders.

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ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

Further Reading: What is intrinsic value?

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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