Central Bank & Trust Co. Reduces Stock Position in ServiceNow, Inc. (NYSE:NOW)

Central Bank & Trust Co. lessened its stake in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,169 shares of the information technology services provider’s stock after selling 37 shares during the quarter. Central Bank & Trust Co.’s holdings in ServiceNow were worth $826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. State Street Corp lifted its stake in shares of ServiceNow by 2.0% in the 2nd quarter. State Street Corp now owns 8,240,319 shares of the information technology services provider’s stock worth $4,630,812,000 after purchasing an additional 158,165 shares during the period. Morgan Stanley lifted its stake in shares of ServiceNow by 4.3% in the 4th quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock worth $2,745,763,000 after purchasing an additional 288,522 shares during the period. Capital International Investors lifted its stake in shares of ServiceNow by 3.2% in the 2nd quarter. Capital International Investors now owns 4,060,299 shares of the information technology services provider’s stock worth $2,281,477,000 after purchasing an additional 126,326 shares during the period. Finally, FMR LLC lifted its stake in shares of ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Hedge funds and other institutional investors own 87.14% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOW shares. Truist Financial raised their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Robert W. Baird raised their target price on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Mizuho raised their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. TheStreet upgraded shares of ServiceNow from a “c+” rating to a “b-” rating in a research note on Friday, December 8th. Finally, Needham & Company LLC raised their target price on shares of ServiceNow from $660.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $750.93.

Read Our Latest Report on NOW

ServiceNow Stock Performance

NOW stock opened at $743.91 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50-day moving average price of $761.81 and a 200 day moving average price of $670.47. The company has a market capitalization of $152.50 billion, a P/E ratio of 88.46, a PEG ratio of 4.95 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $421.50 and a 1-year high of $815.32.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

About ServiceNow

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWFree Report).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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