Busey Bank Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Busey Bank acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 257 shares of the information technology services provider’s stock, valued at approximately $230,000.

Several other large investors have also recently added to or reduced their stakes in NOW. Independence Bank of Kentucky increased its position in ServiceNow by 27.2% during the 1st quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock worth $89,000 after buying an additional 25 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of ServiceNow by 45.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,389 shares of the information technology services provider’s stock worth $1,821,000 after purchasing an additional 743 shares during the period. Chemung Canal Trust Co. increased its position in shares of ServiceNow by 85.1% in the first quarter. Chemung Canal Trust Co. now owns 670 shares of the information technology services provider’s stock worth $511,000 after purchasing an additional 308 shares during the period. Vicus Capital bought a new position in shares of ServiceNow in the first quarter worth $306,000. Finally, Fox Hill Wealth Management bought a new position in shares of ServiceNow in the first quarter worth $505,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NOW shares. Piper Sandler raised their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. Canaccord Genuity Group raised their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Sanford C. Bernstein raised their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their price objective on ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $970.33.

ServiceNow Price Performance

ServiceNow stock opened at $950.85 on Friday. The stock’s 50 day moving average is $883.09 and its 200 day moving average is $796.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $195.88 billion, a P/E ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. ServiceNow, Inc. has a one year low of $548.44 and a one year high of $979.78.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 7.41 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred 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 completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred 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 completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock valued at $4,450,447 over the last ninety days. 0.25% of the stock is 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.