US Bancorp DE Purchases 2,723 Shares of ServiceNow, Inc. $NOW

US Bancorp DE boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 201,417 shares of the information technology services provider’s stock after buying an additional 2,723 shares during the period. US Bancorp DE’s holdings in ServiceNow were worth $207,072,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Brighton Jones LLC lifted its holdings in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in ServiceNow by 42.9% during the 1st quarter. Daymark Wealth Partners LLC now owns 726 shares of the information technology services provider’s stock valued at $578,000 after purchasing an additional 218 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in ServiceNow by 3.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 5,756 shares of the information technology services provider’s stock valued at $4,583,000 after purchasing an additional 204 shares during the last quarter. GAMMA Investing LLC lifted its holdings in ServiceNow by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock valued at $2,689,000 after purchasing an additional 308 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in ServiceNow by 294.5% during the 1st quarter. Simplicity Wealth LLC now owns 1,495 shares of the information technology services provider’s stock valued at $1,190,000 after purchasing an additional 1,116 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on NOW. Morgan Stanley upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. DA Davidson raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Bank of America raised their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC raised their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Stock Up 1.1%

Shares of NYSE:NOW opened at $914.15 on Thursday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a 50 day moving average of $910.23 and a 200-day moving average of $930.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $190.14 billion, a price-to-earnings ratio of 115.13, a P/E/G ratio of 4.07 and a beta of 0.92.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the company earned $3.13 EPS. ServiceNow’s revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by company insiders.

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.