OLD National Bancorp IN Has $723,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

OLD National Bancorp IN grew its position in ServiceNow, Inc. (NYSE:NOW) by 24.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,024 shares of the information technology services provider’s stock after purchasing an additional 201 shares during the period. OLD National Bancorp IN’s holdings in ServiceNow were worth $723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sandbox Financial Partners LLC increased its stake in shares of ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after buying an additional 66 shares during the period. Federated Hermes Inc. grew its stake in shares of ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after purchasing an additional 49,631 shares during the period. Raymond James & Associates grew its stake in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of ServiceNow by 15.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after purchasing an additional 3,438 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of ServiceNow by 4.7% during the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after purchasing an additional 3,154 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $740.95 on Wednesday. The business’s 50 day moving average price is $762.24 and its two-hundred day moving average price is $706.46. The company has a market cap of $152.18 billion, a PE ratio of 88.10, a price-to-earnings-growth ratio of 4.56 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion for 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 business’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, analysts predict that ServiceNow, Inc. will post 6.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays lifted their price objective on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. KeyCorp assumed coverage on ServiceNow in a research note on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Piper Sandler lifted their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada lifted their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $780.37.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 over the last 90 days. 0.25% of the stock is currently owned by 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.