US Bancorp DE Grows Position in ServiceNow, Inc. (NYSE:NOW)

US Bancorp DE grew its stake in ServiceNow, Inc. (NYSE:NOW) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,327 shares of the information technology services provider’s stock after buying an additional 2,830 shares during the quarter. US Bancorp DE owned approximately 0.09% of ServiceNow worth $128,812,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NOW. Norges Bank bought a new position in shares of ServiceNow in the fourth quarter worth about $1,648,259,000. International Assets Investment Management LLC grew its holdings in ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after buying an additional 820,465 shares in the last quarter. FMR LLC raised its position in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Cerity Partners LLC boosted its position in shares of ServiceNow by 1,073.7% during the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after acquiring an additional 371,648 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in ServiceNow during the third quarter valued at $135,075,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 917 shares of company stock valued at $690,880 over the last ninety days. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

NOW has been the subject of several research reports. Piper Sandler increased their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Wells Fargo & Company lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. UBS Group lowered their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Finally, Mizuho increased their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $808.73.

ServiceNow Stock Down 1.4 %

Shares of NOW stock traded down $10.63 during mid-day trading on Friday, hitting $747.52. The stock had a trading volume of 507,445 shares, compared to its average volume of 1,190,032. The firm has a market capitalization of $153.24 billion, a P/E ratio of 79.69, a price-to-earnings-growth ratio of 4.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow, Inc. has a 12-month low of $517.80 and a 12-month high of $815.32. The firm’s 50-day moving average is $747.20 and its two-hundred day moving average is $730.54.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. On average, analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

About ServiceNow

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.