ServiceNow, Inc. (NYSE:NOW) Shares Bought by Grove Bank & Trust

Grove Bank & Trust raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 4,258 shares of the information technology services provider’s stock after purchasing an additional 63 shares during the period. Grove Bank & Trust’s holdings in ServiceNow were worth $3,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the first quarter valued at approximately $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC lifted its stake in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new position in ServiceNow during the 2nd quarter valued at about $32,000. Finally, Semmax Financial Advisors Inc. purchased a new stake in ServiceNow during the second quarter worth about $39,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NOW. Truist Financial upped their target price on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI increased their price objective on ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Robert W. Baird boosted their target price on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Monday, September 9th. Finally, BMO Capital Markets raised their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $880.04.

ServiceNow Stock Performance

NYSE NOW traded up $2.30 during trading hours on Monday, hitting $940.89. 207,669 shares of the stock were exchanged, compared to its average volume of 1,274,845. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.00. The stock has a 50-day moving average of $861.16 and a 200 day moving average of $786.43. The company has a market cap of $192.88 billion, a price-to-earnings ratio of 100.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. This trade represents a 0.00 % 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 link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,914 shares of company stock worth $5,608,936. Corporate insiders own 0.25% 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.