CNB Bank Boosts Holdings in ServiceNow Inc (NYSE:NOW)

CNB Bank raised its holdings in shares of ServiceNow Inc (NYSE:NOW) by 564.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 498 shares of the information technology services provider’s stock after acquiring an additional 423 shares during the quarter. CNB Bank’s holdings in ServiceNow were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. KBC Group NV boosted its stake in shares of ServiceNow by 275.3% during the 2nd quarter. KBC Group NV now owns 87,151 shares of the information technology services provider’s stock worth $23,929,000 after purchasing an additional 63,929 shares during the last quarter. Menta Capital LLC acquired a new stake in shares of ServiceNow during the 2nd quarter worth about $223,000. Institute for Wealth Management LLC. boosted its stake in shares of ServiceNow by 10.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,049 shares of the information technology services provider’s stock worth $837,000 after purchasing an additional 292 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in shares of ServiceNow by 219.5% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock worth $741,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of ServiceNow by 47.8% during the 2nd quarter. Jennison Associates LLC now owns 4,489,468 shares of the information technology services provider’s stock worth $1,232,673,000 after purchasing an additional 1,452,900 shares during the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.

In related news, Director Frederic B. Luddy sold 1,015 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $254.79, for a total value of $258,611.85. Following the transaction, the director now owns 1,213 shares in the company, valued at $309,060.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederic B. Luddy sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $269.37, for a total transaction of $5,926,140.00. Following the completion of the transaction, the director now owns 1,213 shares in the company, valued at approximately $326,745.81. The disclosure for this sale can be found here. Insiders sold 84,854 shares of company stock worth $22,294,182 in the last 90 days. 1.00% of the stock is currently owned by insiders.

NYSE NOW opened at $248.45 on Friday. ServiceNow Inc has a one year low of $147.63 and a one year high of $303.17. The company’s 50 day moving average price is $253.22 and its 200 day moving average price is $267.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $45.35 billion, a price-to-earnings ratio of 1,242.25, a PEG ratio of 17.96 and a beta of 1.28.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.81. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. The firm had revenue of $885.80 million for the quarter, compared to analyst estimates of $885.53 million. During the same quarter last year, the firm posted $0.68 earnings per share. ServiceNow’s revenue for the quarter was up 31.6% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow Inc will post 0.48 EPS for the current fiscal year.

Several research firms have issued reports on NOW. BTIG Research raised their price target on shares of ServiceNow to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Cfra raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Needham & Company LLC raised their price target on shares of ServiceNow from $276.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. ValuEngine raised shares of ServiceNow from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Credit Suisse Group reissued a “buy” rating and issued a $300.00 target price on shares of ServiceNow in a research report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and a consensus target price of $292.31.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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