Global Trust Asset Management LLC Has $65,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Global Trust Asset Management LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 29.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61 shares of the information technology services provider’s stock after selling 25 shares during the period. Global Trust Asset Management LLC’s holdings in ServiceNow were worth $65,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Redhawk Wealth Advisors Inc. raised its position in shares of ServiceNow by 2.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares during the last quarter. Catalyst Financial Partners LLC increased its position in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network raised its holdings in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares during the period. Finally, BluePointe Capital Management LLC boosted its stake in shares of ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after purchasing an additional 12 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,125.39 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $231.83 billion, a PE ratio of 175.02, a PEG ratio of 4.85 and a beta of 0.99. The stock’s 50 day moving average price is $1,071.36 and its 200-day moving average price is $937.32. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. On average, equities analysts anticipate that ServiceNow, Inc. will post 7.06 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Barclays boosted their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus boosted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,093.34.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is owned by insiders.

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.