US Bancorp DE Acquires 691 Shares of ServiceNow, Inc. (NYSE:NOW)

US Bancorp DE boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,194 shares of the information technology services provider’s stock after buying an additional 691 shares during the quarter. US Bancorp DE owned approximately 0.09% of ServiceNow worth $100,702,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Barrett & Company Inc. bought a new stake in ServiceNow during the first quarter valued at approximately $28,000. High Net Worth Advisory Group LLC bought a new stake in ServiceNow during the first quarter valued at approximately $29,000. Altshuler Shaham Ltd bought a new position in shares of ServiceNow in the second quarter worth approximately $30,000. Larson Financial Group LLC boosted its position in shares of ServiceNow by 153.8% in the first quarter. Larson Financial Group LLC now owns 66 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 40 shares during the period. Finally, Global Trust Asset Management LLC boosted its position in shares of ServiceNow by 1,425.0% in the second quarter. Global Trust Asset Management LLC now owns 61 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. 87.14% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 0.6 %

ServiceNow stock traded up $3.87 during midday trading on Thursday, hitting $654.77. 196,846 shares of the company’s stock were exchanged, compared to its average volume of 1,415,144. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.08 and a current ratio of 1.08. ServiceNow, Inc. has a 12 month low of $353.62 and a 12 month high of $659.94. The firm has a 50-day moving average of $575.78 and a two-hundred day moving average of $554.87. The company has a market cap of $134.23 billion, a PE ratio of 84.31, a P/E/G ratio of 5.62 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 25th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.32. ServiceNow had a net margin of 18.72% and a return on equity of 12.25%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.27 billion. As a group, analysts expect that ServiceNow, Inc. will post 4.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NOW. Guggenheim reiterated a “buy” rating and issued a $657.00 price target on shares of ServiceNow in a research report on Thursday, October 19th. StockNews.com began coverage on shares of ServiceNow in a research report on Thursday, October 5th. They set a “buy” rating for the company. KeyCorp upped their target price on shares of ServiceNow from $547.00 to $675.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. Morgan Stanley upped their target price on shares of ServiceNow from $630.00 to $648.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, Evercore ISI upped their target price on shares of ServiceNow from $550.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $614.77.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 91 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $535.10, for a total value of $48,694.10. Following the completion of the transaction, the general counsel now directly owns 4,225 shares of the company’s stock, valued at approximately $2,260,797.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Russell S. Elmer sold 91 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $535.10, for a total value of $48,694.10. Following the completion of the transaction, the general counsel now directly owns 4,225 shares of the company’s stock, valued at approximately $2,260,797.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chirantan Jitendra Desai sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $592.10, for a total transaction of $2,664,450.00. Following the transaction, the chief operating officer now directly owns 41,307 shares of the company’s stock, valued at $24,457,874.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,805 shares of company stock worth $5,729,390. Corporate insiders own 0.28% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.