OLD National Bancorp IN Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

OLD National Bancorp IN increased its position in ServiceNow, Inc. (NYSE:NOWFree Report) by 116.4% in the 4th quarter, Holdings Channel reports. The firm owned 1,292 shares of the information technology services provider’s stock after buying an additional 695 shares during the period. OLD National Bancorp IN’s holdings in ServiceNow were worth $1,370,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in NOW. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of ServiceNow by 8,337.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 30,544 shares of the information technology services provider’s stock worth $24,028,000 after acquiring an additional 30,182 shares during the last quarter. Anchor Investment Management LLC grew its position in ServiceNow by 8.1% during the 2nd quarter. Anchor Investment Management LLC now owns 1,286 shares of the information technology services provider’s stock worth $1,012,000 after purchasing an additional 96 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in ServiceNow in the third quarter valued at $426,000. Czech National Bank raised its holdings in shares of ServiceNow by 7.4% in the third quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock valued at $37,532,000 after buying an additional 2,900 shares during the last quarter. Finally, Private Client Services LLC boosted its stake in shares of ServiceNow by 16.9% during the third quarter. Private Client Services LLC now owns 2,286 shares of the information technology services provider’s stock worth $2,045,000 after buying an additional 330 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NOW. Barclays upped their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Mizuho increased their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,129.93.

Read Our Latest Analysis on NOW

ServiceNow Stock Up 0.7 %

NOW opened at $1,020.17 on Friday. The firm has a market cap of $210.16 billion, a P/E ratio of 149.37, a PEG ratio of 5.19 and a beta of 0.99. The business’s fifty day simple moving average is $1,084.47 and its 200 day simple moving average is $952.71. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.56%. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.98 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

ServiceNow Profile

(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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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