US Bancorp DE Trims Holdings in ServiceNow, Inc. (NYSE:NOW)

US Bancorp DE cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,109 shares of the information technology services provider’s stock after selling 966 shares during the quarter. US Bancorp DE owned approximately 0.09% of ServiceNow worth $169,137,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the 1st quarter valued at about $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC increased its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC purchased a new position in ServiceNow during the second quarter worth approximately $32,000. Finally, DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NOW shares. JPMorgan Chase & Co. increased their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. KeyCorp boosted their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada raised their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Performance

Shares of NOW stock traded down $14.90 on Thursday, hitting $935.10. 201,283 shares of the stock traded hands, compared to its average volume of 1,281,269. The company has a market capitalization of $192.63 billion, a PE ratio of 147.87, a PEG ratio of 5.67 and a beta of 0.99. The company’s fifty day moving average is $892.35 and its 200 day moving average is $801.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1-year low of $564.90 and a 1-year high of $979.78.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. On average, equities research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock worth $4,450,447 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Company Profile

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.